Aventail Capital Group LP Has $44.12 Million Stock Position in ONEOK, Inc. $OKE

Aventail Capital Group LP raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 61.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 600,273 shares of the utilities provider’s stock after purchasing an additional 229,209 shares during the quarter. ONEOK accounts for about 2.5% of Aventail Capital Group LP’s investment portfolio, making the stock its 11th biggest position. Aventail Capital Group LP owned about 0.10% of ONEOK worth $44,120,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legal & General Group Plc lifted its stake in ONEOK by 1.6% during the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after purchasing an additional 80,683 shares during the period. Russell Investments Group Ltd. lifted its stake in ONEOK by 1.4% during the third quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider’s stock worth $89,910,000 after purchasing an additional 16,871 shares during the period. WBI Investments LLC lifted its stake in ONEOK by 221.5% during the third quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock worth $2,610,000 after purchasing an additional 24,643 shares during the period. Aberdeen Group plc grew its stake in ONEOK by 46.0% during the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock worth $70,388,000 after buying an additional 301,654 shares during the last quarter. Finally, Advisors Capital Management LLC grew its stake in ONEOK by 23.6% during the third quarter. Advisors Capital Management LLC now owns 759,241 shares of the utilities provider’s stock worth $55,402,000 after buying an additional 145,060 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 19th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Truist Financial upped their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. Finally, Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $91.88.

ONEOK Trading Down 0.9%

Shares of NYSE:OKE opened at $85.53 on Thursday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The company’s fifty day simple moving average is $88.20 and its 200 day simple moving average is $82.98. The firm has a market cap of $53.89 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 6.45 and a beta of 0.74.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period last year, the business posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s payout ratio is presently 76.29%.

ONEOK Profile

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.