Renaissance Investment Group LLC Sells 8,696 Shares of ONEOK, Inc. $OKE

Renaissance Investment Group LLC reduced its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 25.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,964 shares of the utilities provider’s stock after selling 8,696 shares during the period. Renaissance Investment Group LLC’s holdings in ONEOK were worth $1,835,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in OKE. City Holding Co. acquired a new stake in ONEOK during the third quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new position in shares of ONEOK in the 3rd quarter worth approximately $28,000. Global Wealth Strategies & Associates bought a new position in shares of ONEOK during the 3rd quarter worth approximately $29,000. Financial Consulate Inc. acquired a new stake in ONEOK in the 3rd quarter valued at $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in ONEOK in the second quarter valued at $34,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 2.4%

Shares of NYSE OKE opened at $88.27 on Friday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The company has a 50-day moving average of $81.76 and a two-hundred day moving average of $75.08. The company has a market cap of $55.59 billion, a PE ratio of 16.29, a P/E/G ratio of 6.56 and a beta of 0.93. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.50 by $0.05. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same period in the prior year, the firm earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $1.07 dividend. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK’s payout ratio is 78.97%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OKE shares. Jefferies Financial Group started coverage on ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective for the company. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Royal Bank Of Canada lifted their price target on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Thursday. Barclays upped their price objective on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Finally, Scotiabank reissued an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a report on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $86.33.

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.