Independent Financial Group LLC Buys Shares of 5,458 ONEOK, Inc. $OKE

Independent Financial Group LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,458 shares of the utilities provider’s stock, valued at approximately $493,000.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC increased its position in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC boosted its position in ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares during the period. Acadian Asset Management LLC bought a new position in shares of ONEOK in the first quarter worth $216,000. Federated Hermes Inc. increased its holdings in shares of ONEOK by 14.0% during the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of ONEOK by 3.9% during the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 1.6%

Shares of ONEOK stock opened at $93.17 on Friday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The firm has a market capitalization of $58.71 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 4.94 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The stock’s fifty day moving average is $89.47 and its 200-day moving average is $85.91.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter last year, the business earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OKE shares. Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. TD Cowen upped their price target on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Royal Bank Of Canada raised their price objective on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their target price on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.