Intact Investment Management Inc. Buys 29,000 Shares of ONEOK, Inc. $OKE

Intact Investment Management Inc. increased its stake in ONEOK, Inc. (NYSE:OKE) by 56.3% during the fourth quarter, Holdings Channel reports. The firm owned 80,500 shares of the utilities provider’s stock after acquiring an additional 29,000 shares during the period. Intact Investment Management Inc.’s holdings in ONEOK were worth $5,917,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of OKE. Danske Bank A S increased its position in shares of ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after purchasing an additional 1,644,945 shares during the period. First Eagle Investment Management LLC increased its position in shares of ONEOK by 24.2% in the third quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock worth $566,920,000 after purchasing an additional 1,513,042 shares during the period. Man Group plc increased its position in shares of ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after purchasing an additional 1,161,352 shares during the period. Vanguard Group Inc. increased its position in shares of ONEOK by 0.9% in the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock worth $5,634,932,000 after purchasing an additional 711,619 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of ONEOK by 14.9% in the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock worth $396,462,000 after purchasing an additional 703,834 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of recent analyst reports. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $92.00 to $89.00 in a research report on Thursday. 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. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a research report on Thursday. Mizuho set a $89.00 target price on ONEOK in a research report on Monday, February 23rd. Finally, Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average target price of $91.19.

ONEOK Stock Performance

Shares of OKE stock opened at $90.76 on Tuesday. The business’s 50-day moving average price is $87.11 and its 200-day moving average price is $78.41. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $95.30. The firm has a market capitalization of $57.18 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 6.84 and a beta of 0.78. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last announced 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). The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the business posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.53 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be issued a $1.07 dividend. The ex-dividend date is Monday, May 4th. This represents a $4.28 annualized dividend and a yield of 4.7%. ONEOK’s dividend payout ratio is presently 76.29%.

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.