ONEOK, Inc. $OKE Shares Purchased by Waverly Advisors LLC

Waverly Advisors LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 335.1% in the first quarter, HoldingsChannel reports. The firm owned 77,687 shares of the utilities provider’s stock after buying an additional 59,831 shares during the period. Waverly Advisors LLC’s holdings in ONEOK were worth $7,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in ONEOK by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after purchasing an additional 380,744 shares during the last quarter. State Street Corp grew its stake in shares of ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock valued at $2,826,118,000 after buying an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 2.7% during 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 buying an additional 599,248 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 3.2% during 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 buying an additional 518,746 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of ONEOK by 46.3% during 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 buying an additional 3,596,089 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. TD Cowen upped their price objective on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Truist Financial lifted their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Finally, Barclays cut their price objective on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $92.44.

ONEOK Stock Down 4.0%

ONEOK stock opened at $89.44 on Tuesday. The company has a market capitalization of $56.36 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 5.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The firm has a 50 day moving average price of $89.40 and a 200 day moving average price of $86.18.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company earned $1.04 earnings per share. Research analysts expect that ONEOK, Inc. will post 5.68 earnings per share 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 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

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.