ONEOK, Inc. $OKE Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,232,011 shares of the utilities provider’s stock after acquiring an additional 16,871 shares during the quarter. Russell Investments Group Ltd.’s holdings in ONEOK were worth $89,910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. National Pension Service increased its position in ONEOK by 2.9% during the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after purchasing an additional 24,003 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in ONEOK by 34.1% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after purchasing an additional 22,282 shares during the last quarter. Nordea Investment Management AB boosted its holdings in ONEOK by 7.5% in the 3rd quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock valued at $55,885,000 after purchasing an additional 54,444 shares during the last quarter. Tectonic Advisors LLC grew its stake in shares of ONEOK by 41.1% in the 3rd quarter. Tectonic Advisors LLC now owns 188,842 shares of the utilities provider’s stock valued at $13,780,000 after buying an additional 55,024 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of ONEOK by 29.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider’s stock worth $39,401,000 after buying an additional 121,891 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $85.84 on Tuesday. The firm’s 50 day moving average price is $79.67 and its 200-day moving average price is $74.48. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a one year low of $64.02 and a one year high of $103.64. The firm has a market cap of $54.06 billion, a P/E ratio of 15.84, a P/E/G ratio of 5.13 and a beta of 0.93.

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

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is 78.97%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OKE shares. Jefferies Financial Group began coverage on shares of ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Barclays raised their target price on ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Finally, UBS Group decreased their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.