Rafferty Asset Management LLC Has $9.78 Million Holdings in ONEOK, Inc. $OKE

Rafferty Asset Management LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 134,079 shares of the utilities provider’s stock after purchasing an additional 6,803 shares during the quarter. Rafferty Asset Management LLC’s holdings in ONEOK were worth $9,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Winnow Wealth LLC acquired a new position in shares of ONEOK during the 3rd quarter worth approximately $28,000. City Holding Co. acquired a new stake in ONEOK during the 3rd quarter valued at $28,000. Global Wealth Strategies & Associates bought a new position in ONEOK during the third quarter worth $29,000. Financial Consulate Inc. bought a new position in ONEOK during the third quarter worth $29,000. Finally, Access Investment Management LLC acquired a new position in shares of ONEOK in the second quarter valued at $33,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Down 1.6%

NYSE OKE opened at $82.67 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The company has a market cap of $52.06 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 4.88 and a beta of 0.93. The company has a 50 day moving average of $78.17 and a 200-day moving average of $73.97. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64.

ONEOK (NYSE:OKE) last issued its quarterly earnings results 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. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same quarter in the prior year, the business posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.2%. ONEOK’s payout ratio is currently 78.97%.

Wall Street Analysts Forecast Growth

OKE has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price objective on shares of ONEOK in a research report on Wednesday, January 28th. Mizuho set a $89.00 price target on shares of ONEOK in a report on Monday, February 23rd. The Goldman Sachs Group restated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Finally, Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.07.

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.