Infrastructure Capital Advisors LLC Sells 52,067 Shares of ONEOK, Inc. $OKE

Infrastructure Capital Advisors LLC decreased its position in ONEOK, Inc. (NYSE:OKE) by 36.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,229 shares of the utilities provider’s stock after selling 52,067 shares during the period. ONEOK accounts for 0.6% of Infrastructure Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest holding. Infrastructure Capital Advisors LLC’s holdings in ONEOK were worth $8,246,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares during the last quarter. State Street Corp boosted its position in ONEOK by 1.7% in the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after purchasing an additional 599,248 shares during the last quarter. Geode Capital Management LLC grew its stake in ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after purchasing an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC increased its position in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Trending Headlines about ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

ONEOK Stock Performance

Shares of OKE opened at $89.44 on Tuesday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. 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 stock’s fifty day moving average price is $89.40 and its two-hundred day moving average price is $86.18. The firm has a market cap of $56.36 billion, a PE ratio of 15.94, a PEG ratio of 5.01 and a beta of 0.73.

ONEOK (NYSE:OKE) last posted its quarterly 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 firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the company posted $1.04 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $1.07 dividend. The ex-dividend date is Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

Analysts Set New Price Targets

A number of research firms have recently commented on OKE. Barclays lowered their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Truist Financial increased their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Raymond James Financial restated an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $92.44.

ONEOK 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.