ONEOK, Inc. $OKE Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 12.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,300,057 shares of the utilities provider’s stock after selling 184,231 shares during the quarter. Russell Investments Group Ltd.’s holdings in ONEOK were worth $113,083,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of OKE. Vanguard Group Inc. grew its holdings in shares of ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after purchasing an additional 380,744 shares during the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 valued at $1,663,637,000 after purchasing an additional 599,248 shares during the period. Geode Capital Management LLC boosted 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 valued at $1,215,107,000 after purchasing an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC grew its stake in 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 worth $835,350,000 after buying an additional 3,596,089 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $94.99 on Monday. The stock’s 50-day moving average price is $89.48 and its 200 day moving average price is $87.68. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $59.88 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 7.10 and a beta of 0.73. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping 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 company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period last year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on OKE shares. Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Morgan Stanley restated an “equal weight” rating and set a $103.00 target price (down from $113.00) on shares of ONEOK in a research report on Wednesday, July 29th. Barclays cut their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Citigroup upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $91.81.

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.