Gabelli Funds LLC Grows Stake in ONEOK, Inc. $OKE

Gabelli Funds LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 846,675 shares of the utilities provider’s stock after purchasing an additional 7,175 shares during the period. Gabelli Funds LLC owned 0.13% of ONEOK worth $76,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc grew its stake in ONEOK by 46.0% during the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after acquiring an additional 301,654 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in ONEOK by 219.5% in the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Triune Financial Partners LLC purchased a new position in ONEOK in the 4th quarter worth approximately $1,151,000. Royal Fund Management LLC boosted its holdings in shares of ONEOK by 40.8% during the 4th quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock worth $5,907,000 after purchasing an additional 23,281 shares during the last quarter. Finally, Castle Rock Wealth Management LLC boosted its holdings in shares of ONEOK by 360.0% during the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 28,343 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $93.13 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The firm has a market cap of $58.69 billion, a P/E ratio of 16.60, a P/E/G ratio of 5.02 and a beta of 0.73. The firm’s 50 day moving average price is $89.48 and its 200-day moving average price is $85.96. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion during 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 quarter last year, the business posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. ONEOK’s payout ratio is presently 76.29%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent research reports. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Citigroup upped their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Finally, Royal Bank Of Canada lifted their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.44.

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.