QRG Capital Management Inc. Purchases 11,806 Shares of ONEOK, Inc. $OKE

QRG Capital Management Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 129.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,899 shares of the utilities provider’s stock after purchasing an additional 11,806 shares during the period. QRG Capital Management Inc.’s holdings in ONEOK were worth $1,889,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after purchasing an additional 380,744 shares during the last quarter. State Street Corp grew its position in shares of ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after buying an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock valued at $1,663,637,000 after buying an additional 599,248 shares during the period. Geode Capital Management LLC raised its holdings in shares of ONEOK by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after acquiring an additional 518,746 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in shares of 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 valued at $835,350,000 after acquiring an additional 3,596,089 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

OKE has been the topic of several recent analyst reports. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Citigroup raised their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays lifted their target price on shares of ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.88.

ONEOK Stock Up 3.8%

NYSE:OKE opened at $90.73 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The firm’s 50-day moving average price is $88.66 and its 200-day moving average price is $84.33. The company has a market capitalization of $57.17 billion, a PE ratio of 16.17, a P/E/G ratio of 6.54 and a beta of 0.73. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS 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 business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business 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. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. ONEOK’s payout ratio is presently 76.29%.

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.