Legato Capital Management LLC Buys Shares of 30,000 ONEOK, Inc. $OKE

Legato Capital Management LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 30,000 shares of the utilities provider’s stock, valued at approximately $2,205,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Advisory Alpha LLC increased its position in ONEOK by 8.5% during the 4th quarter. Advisory Alpha LLC now owns 7,981 shares of the utilities provider’s stock valued at $587,000 after purchasing an additional 622 shares during the period. Keudell Morrison Wealth Management purchased a new position in ONEOK during the 4th quarter valued at about $831,000. Ignite Planners LLC increased its position in ONEOK by 289.0% during the 4th quarter. Ignite Planners LLC now owns 17,846 shares of the utilities provider’s stock valued at $1,413,000 after purchasing an additional 13,258 shares during the period. Axxcess Wealth Management LLC increased its position in ONEOK by 47.1% during the 4th quarter. Axxcess Wealth Management LLC now owns 22,658 shares of the utilities provider’s stock valued at $1,665,000 after purchasing an additional 7,260 shares during the period. Finally, Texas Bank & Trust Co purchased a new position in shares of ONEOK in the 4th quarter worth approximately $398,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.5%

NYSE:OKE opened at $93.98 on Friday. The company has a market cap of $59.21 billion, a PE ratio of 16.75, a P/E/G ratio of 6.84 and a beta of 0.78. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $88.54 and its two-hundred day moving average is $80.48.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.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 prior year, the firm posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Analysts anticipate that ONEOK, Inc. will post 5.76 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, May 4th. ONEOK’s payout ratio is presently 76.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKE. Jefferies Financial Group increased their target price on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. 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 report on Thursday, March 19th. Citigroup increased their price objective on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Truist Financial raised their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Barclays raised their price objective on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, ONEOK has a consensus rating of “Hold” and an average price target of $91.88.

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.