Henson Edgewater Management LLC Invests $579,000 in ONEOK, Inc. $OKE

Henson Edgewater Management LLC bought a new position in ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 7,879 shares of the utilities provider’s stock, valued at approximately $579,000. ONEOK makes up 0.4% of Henson Edgewater Management LLC’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC lifted its position in ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares during the period. Acadian Asset Management LLC purchased a new stake in ONEOK during the 1st quarter valued at about $216,000. Wealthspire Advisors LLC grew its stake in ONEOK by 2.2% during the 2nd quarter. Wealthspire Advisors LLC now owns 22,224 shares of the utilities provider’s stock valued at $1,814,000 after purchasing an additional 472 shares during the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of ONEOK by 1.5% in the second quarter. Empirical Finance LLC now owns 11,549 shares of the utilities provider’s stock valued at $943,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 2.4%

Shares of ONEOK stock opened at $88.27 on Friday. The firm’s 50-day moving average price is $81.76 and its 200 day moving average price is $75.08. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The firm has a market capitalization of $55.59 billion, a PE ratio of 16.29, a P/E/G ratio of 6.56 and a beta of 0.93. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36.

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

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. ONEOK’s payout ratio is currently 78.97%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on OKE shares. JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Barclays increased their price target on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada boosted their target price on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating and set a $91.00 target price on shares of ONEOK in a report on Friday, January 16th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $86.33.

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.