ONEOK, Inc. $OKE Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 19.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 202,714 shares of the utilities provider’s stock after buying an additional 32,619 shares during the quarter. NewEdge Advisors LLC’s holdings in ONEOK were worth $18,323,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of OKE. Vanguard Group Inc. raised its stake in ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after buying an additional 380,744 shares in the last quarter. State Street Corp lifted its holdings in ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after buying an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after acquiring an additional 599,248 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after acquiring an additional 518,746 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after acquiring an additional 3,596,089 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 1.8%

NYSE:OKE opened at $86.33 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 $54.42 billion, a P/E ratio of 14.89, a P/E/G ratio of 4.58 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.56. The business has a 50 day simple moving average of $88.95 and a 200 day simple moving average of $87.04.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period last year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 73.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OKE shares. Wells Fargo & Company dropped their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. 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. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Wall Street Zen lowered shares of ONEOK from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $91.81.

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.