Victory Capital Management Inc. Reduces Holdings in ONEOK, Inc. $OKE

Victory Capital Management Inc. reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 12.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421,418 shares of the utilities provider’s stock after selling 60,775 shares during the period. Victory Capital Management Inc. owned 0.07% of ONEOK worth $30,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OKE. Brighton Jones LLC boosted its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Empowered Funds LLC raised its stake in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC purchased a new position in ONEOK in the 1st quarter valued at about $216,000. Golden State Wealth Management LLC boosted its stake in shares of ONEOK by 13,350.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 807 shares of the utilities provider’s stock worth $66,000 after purchasing an additional 801 shares during the last quarter. Finally, Modera Wealth Management LLC grew its holdings in shares of ONEOK by 46.5% during the second quarter. Modera Wealth Management LLC now owns 5,444 shares of the utilities provider’s stock worth $444,000 after buying an additional 1,729 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 1.6%

OKE stock opened at $86.95 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. The company has a market cap of $54.76 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 5.13 and a beta of 0.93. The business has a fifty day simple moving average of $79.43 and a 200-day simple moving average of $74.39. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same quarter in the previous year, the business earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $1.07 dividend. The ex-dividend date was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 4.9%. ONEOK’s payout ratio is 78.97%.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and cut their price target for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Mizuho set a $89.00 price objective on ONEOK in a report on Monday, February 23rd. Wells Fargo & Company lowered their price objective on ONEOK from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.47.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.