Donaldson Capital Management LLC Has $30.59 Million Stock Position in ONEOK, Inc. $OKE

Donaldson Capital Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 1,389.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,817 shares of the utilities provider’s stock after buying an additional 328,197 shares during the quarter. Donaldson Capital Management LLC’s holdings in ONEOK were worth $30,587,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in ONEOK by 137.1% during the fourth 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 in the last quarter. Empowered Funds LLC grew its position in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares during the period. Acadian Asset Management LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $216,000. Federated Hermes Inc. increased its stake in shares of ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares during the period. 69.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKE. Truist Financial lifted their price target on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, May 4th. TD Cowen upped their price objective on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.81.

ONEOK Trading Up 2.5%

OKE stock opened at $94.99 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a market capitalization of $59.88 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 4.95 and a beta of 0.73. The company’s 50-day simple moving average is $89.48 and its 200 day simple moving average is $87.61. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Announces Dividend

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

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.