Garner Asset Management Corp Grows Position in ONEOK, Inc. $OKE

Garner Asset Management Corp raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 62.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 41,913 shares of the utilities provider’s stock after acquiring an additional 16,054 shares during the quarter. ONEOK comprises approximately 1.2% of Garner Asset Management Corp’s holdings, making the stock its 21st biggest position. Garner Asset Management Corp’s holdings in ONEOK were worth $3,081,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. TCV Trust & Wealth Management Inc. lifted its holdings in ONEOK by 4.2% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 133 shares during the last quarter. Empowered Funds LLC lifted its holdings in ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. Fourpath Capital Management LLC lifted its holdings in ONEOK by 1.6% during the fourth quarter. Fourpath Capital Management LLC now owns 8,628 shares of the utilities provider’s stock valued at $634,000 after purchasing an additional 140 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in ONEOK by 8.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,864 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 144 shares during the last quarter. Finally, Avion Wealth lifted its holdings in ONEOK by 20.3% during the fourth quarter. Avion Wealth now owns 882 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 149 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.6%

Shares of OKE opened at $90.04 on Wednesday. The firm’s 50 day simple moving average is $87.17 and its 200 day simple moving average is $78.56. The company has a market capitalization of $56.73 billion, a P/E ratio of 16.05, a P/E/G ratio of 6.43 and a beta of 0.78. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $95.30.

ONEOK (NYSE:OKE) last announced its 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 analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the prior year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts forecast that ONEOK, Inc. will post 5.9 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OKE shares. Jefferies Financial Group upped their price objective on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Barclays increased their price target on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $91.19.

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.