Denali Advisors LLC Purchases Shares of 6,003 ONEOK, Inc. $OKE

Denali Advisors LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,003 shares of the utilities provider’s stock, valued at approximately $522,000.

Several other institutional investors also recently modified their holdings of OKE. Capital International Investors acquired a new position in shares of ONEOK in the fourth quarter valued at $586,500,000. Norges Bank acquired a new stake in ONEOK during the fourth quarter worth $564,867,000. BlackRock Inc. boosted its stake in ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after buying an additional 5,148,768 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in ONEOK in the 2nd quarter valued at $204,672,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.4%

Shares of NYSE OKE opened at $94.69 on Friday. The stock has a market cap of $59.69 billion, a PE ratio of 16.33, a PEG ratio of 2.69 and a beta of 0.73. The business has a fifty day moving average of $90.03 and a two-hundred day moving average of $88.16. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter in the prior year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.82 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio is currently 73.79%.

Analyst Ratings Changes

A number of research firms have recently commented on OKE. Royal Bank Of Canada raised their price objective on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Raymond James Financial reissued an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. Barclays dropped their price target on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company cut their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.94.

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.