NEOS Investment Management LLC Acquires 177,336 Shares of ONEOK, Inc. $OKE

NEOS Investment Management LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 51.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 524,424 shares of the utilities provider’s stock after acquiring an additional 177,336 shares during the period. NEOS Investment Management LLC’s holdings in ONEOK were worth $45,593,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of 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 purchasing an additional 5,148,768 shares in the last quarter. State Street Corp lifted its holdings in ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after purchasing an additional 648,647 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after purchasing an additional 599,248 shares in the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after purchasing an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake 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 worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $95.00 to $106.00 and gave the company a “neutral” rating in a research report on Tuesday. Truist Financial upped their target price on shares of ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a research report on Wednesday. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup lifted their price target on shares of ONEOK from $97.00 to $108.00 and gave the company a “buy” rating in a report on Thursday. Finally, Scotiabank boosted their price target on shares of ONEOK from $89.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $95.50.

ONEOK Stock Performance

NYSE OKE opened at $95.76 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $99.85. The business has a 50 day simple moving average of $91.55 and a two-hundred day simple moving average of $89.07. The stock has a market capitalization of $60.36 billion, a PE ratio of 16.51, a P/E/G ratio of 2.68 and a beta of 0.74.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The business had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

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.