Castleark Management LLC Acquires Shares of 34,458 ONEOK, Inc. $OKE

Castleark Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, HoldingsChannel reports. The fund acquired 34,458 shares of the utilities provider’s stock, valued at approximately $2,996,000.

A number of other hedge funds have also recently modified their holdings of OKE. Zions Bancorporation National Association UT grew its holdings in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares during the period. Elyxium Wealth LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK in the fourth quarter valued at approximately $29,000. Portus Wealth Advisors LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $33,000. Finally, Wilkerson Advisory Group LLC boosted its position in ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Citigroup boosted their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wells Fargo & Company dropped their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. Finally, Truist Financial increased their target price on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Trading Up 3.5%

Shares of OKE stock opened at $94.93 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The company has a market cap of $59.84 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 2.56 and a beta of 0.73. The stock has a 50 day simple moving average of $90.50 and a 200-day simple moving average of $88.58. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is presently 73.79%.

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.