Legal & General Group Plc Trims Stock Position in ONEOK, Inc. $OKE

Legal & General Group Plc cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900,671 shares of the utilities provider’s stock after selling 317,705 shares during the period. Legal & General Group Plc owned approximately 0.78% of ONEOK worth $360,199,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after purchasing an additional 380,744 shares during the period. First Eagle Investment Management LLC raised its stake in ONEOK by 46.3% during the fourth 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. Invesco Ltd. raised its stake in ONEOK by 6.3% during the third quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after purchasing an additional 532,267 shares during the period. Dimensional Fund Advisors LP raised its stake in ONEOK by 14.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock worth $396,462,000 after purchasing an additional 703,834 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in ONEOK by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 4,862,530 shares of the utilities provider’s stock worth $354,819,000 after purchasing an additional 21,732 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE opened at $90.55 on Wednesday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The stock has a market cap of $57.05 billion, a PE ratio of 16.14, a P/E/G ratio of 6.84 and a beta of 0.78. The firm has a 50-day simple moving average of $88.83 and a two-hundred day simple moving average of $80.96. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter in the prior 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, analysts forecast 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. Investors of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. ONEOK’s payout ratio is 76.29%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OKE. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Finally, Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus 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.