Hodges Capital Management Inc. Trims Stake in ONEOK, Inc. $OKE

Hodges Capital Management Inc. lessened its position in ONEOK, Inc. (NYSE:OKE) by 23.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,346 shares of the utilities provider’s stock after selling 36,151 shares during the quarter. Hodges Capital Management Inc.’s holdings in ONEOK were worth $10,878,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in shares of ONEOK by 1.6% in 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 last quarter. Russell Investments Group Ltd. increased its holdings in ONEOK by 1.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider’s stock worth $89,910,000 after buying an additional 16,871 shares during the period. WBI Investments LLC increased its holdings in ONEOK by 221.5% in the 3rd quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock worth $2,610,000 after buying an additional 24,643 shares during the period. Coldstream Capital Management Inc. raised its position in ONEOK by 20.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider’s stock worth $3,422,000 after buying an additional 7,843 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in ONEOK by 46.0% during the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after acquiring an additional 301,654 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on OKE shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Royal Bank Of Canada lifted their price objective on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, March 19th. Finally, Barclays boosted their price objective on ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $91.88.

ONEOK Price Performance

Shares of NYSE OKE opened at $87.89 on Monday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The firm has a fifty day moving average of $88.59 and a 200 day moving average of $84.09. The firm has a market cap of $55.38 billion, a PE ratio of 15.67, a PEG ratio of 6.57 and a beta of 0.73. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07.

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

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.9%. ONEOK’s dividend payout ratio (DPR) is currently 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.