Tevis Investment Management Invests $1.67 Million in ONEOK, Inc. $OKE

Tevis Investment Management purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,845 shares of the utilities provider’s stock, valued at approximately $1,667,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC increased its holdings in shares of ONEOK by 0.8% in 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 period. Acadian Asset Management LLC purchased a new stake in shares of ONEOK during the first quarter worth approximately $216,000. SG Americas Securities LLC raised its stake in shares of ONEOK by 361.1% during the second quarter. SG Americas Securities LLC now owns 43,845 shares of the utilities provider’s stock worth $3,579,000 after purchasing an additional 34,337 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its holdings in shares of ONEOK by 5.9% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 8,473 shares of the utilities provider’s stock worth $692,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKE. UBS Group lowered their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Wells Fargo & Company raised their target price on shares of ONEOK from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a report on Wednesday, January 28th. Jefferies Financial Group assumed coverage on shares of ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target on the stock. Finally, Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $86.60.

ONEOK Price Performance

ONEOK stock opened at $86.21 on Thursday. The company has a market cap of $54.29 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 6.59 and a beta of 0.93. ONEOK, Inc. has a one year low of $64.02 and a one year high of $103.64. The business has a fifty day moving average of $81.45 and a two-hundred day moving average of $74.99. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same period in the prior year, the company posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s dividend payout ratio is presently 78.97%.

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.