Earnest Partners LLC Raises Holdings in ONEOK, Inc. $OKE

Earnest Partners LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 7.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 294,847 shares of the utilities provider’s stock after purchasing an additional 20,264 shares during the quarter. Earnest Partners LLC’s holdings in ONEOK were worth $21,515,000 as of its most recent SEC filing.

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

ONEOK Price Performance

Shares of OKE opened at $85.44 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The company’s fifty day moving average price is $80.59 and its 200-day moving average price is $74.77. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The firm has a market capitalization of $53.81 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 6.50 and a beta of 0.93.

ONEOK (NYSE:OKE) last issued its 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 company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same quarter last year, the business posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s dividend payout ratio is presently 78.97%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OKE shares. Scotiabank reiterated an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a report on Friday, January 16th. UBS Group cut 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. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Jefferies Financial Group initiated coverage on shares of ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 target price for the company. Finally, Mizuho set a $89.00 target price on shares of ONEOK in a research note on Monday, February 23rd. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.60.

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.