ONEOK, Inc. $OKE Stock Holdings Raised by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 17.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,115,396 shares of the utilities provider’s stock after acquiring an additional 166,638 shares during the quarter. ONEOK comprises about 6.2% of Recurrent Investment Advisors LLC’s holdings, making the stock its 4th biggest holding. Recurrent Investment Advisors LLC owned 0.18% of ONEOK worth $81,390,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OKE. City Holding Co. bought a new position in ONEOK in the 3rd quarter valued at $28,000. Winnow Wealth LLC bought a new position in shares of ONEOK in the third quarter worth $28,000. Global Wealth Strategies & Associates bought a new position in shares of ONEOK in the third quarter worth $29,000. Financial Consulate Inc. purchased a new stake in shares of ONEOK in the third quarter worth $29,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of ONEOK in the second quarter worth $34,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of several recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $104.00 target price on shares of ONEOK in a research report on Wednesday, January 28th. Wells Fargo & Company dropped their price target on ONEOK from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 25th. Barclays boosted their price objective on ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. UBS Group decreased their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Finally, Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.47.

ONEOK Trading Down 0.9%

NYSE OKE opened at $85.01 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. The stock’s 50-day simple moving average is $80.37 and its two-hundred day simple moving average is $74.70. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a market capitalization of $53.54 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 6.53 and a beta of 0.93.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders 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. This represents a $4.28 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s payout ratio is currently 78.97%.

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.