OP Asset Management Ltd Invests $5.67 Million in ONEOK, Inc. $OKE

OP Asset Management Ltd bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 62,681 shares of the utilities provider’s stock, valued at approximately $5,666,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hoxton Planning & Management LLC grew its position in ONEOK by 2.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 120 shares during the last quarter. Disciplined Investments LLC boosted its stake in shares of ONEOK by 0.6% during the fourth quarter. Disciplined Investments LLC now owns 21,577 shares of the utilities provider’s stock worth $1,586,000 after buying an additional 125 shares during the period. TCV Trust & Wealth Management Inc. boosted its stake in shares of ONEOK by 4.2% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider’s stock worth $242,000 after buying an additional 133 shares during the period. Loomis Sayles & Co. L P grew its holdings in shares of ONEOK by 14.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,034 shares of the utilities provider’s stock worth $76,000 after buying an additional 133 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. 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. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Royal Bank Of Canada upped their price target on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 19th. Morgan Stanley increased their price target on ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Finally, Jefferies Financial Group boosted their price objective on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $91.88.

ONEOK Price Performance

ONEOK stock opened at $89.18 on Friday. The company has a market cap of $56.20 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 6.69 and a beta of 0.74. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The business has a fifty day moving average of $88.32 and a two-hundred day moving average of $83.55. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last posted its quarterly 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 company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period last year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is presently 76.29%.

ONEOK Company 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.