Syntax Research Inc. Sells 9,950 Shares of ONEOK, Inc. $OKE

Syntax Research Inc. trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 96.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 354 shares of the utilities provider’s stock after selling 9,950 shares during the period. Syntax Research Inc.’s holdings in ONEOK were worth $32,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OKE. Capital International Investors bought a new stake in ONEOK during the 4th quarter valued at approximately $586,500,000. Norges Bank bought a new position in ONEOK in the 4th quarter worth approximately $564,867,000. 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. Danske Bank A S grew its holdings in ONEOK by 3,538.4% during the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after buying an additional 1,644,945 shares in the last quarter. Finally, Man Group plc grew its holdings in ONEOK by 292.1% during the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after buying an additional 1,161,352 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $85.59 on Thursday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average is $88.49 and its 200 day moving average is $83.88. The company has a market cap of $53.94 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 6.50 and a beta of 0.73.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 annualized dividend and a yield of 5.0%. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Morgan Stanley raised their target price on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Jefferies Financial Group lifted their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. TD Cowen boosted their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.88.

About ONEOK

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.