Energy Income Partners LLC Buys 617,015 Shares of ONEOK, Inc. $OKE

Energy Income Partners LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 57.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,688,741 shares of the utilities provider’s stock after acquiring an additional 617,015 shares during the period. ONEOK accounts for about 2.5% of Energy Income Partners LLC’s holdings, making the stock its 9th biggest holding. Energy Income Partners LLC’s holdings in ONEOK were worth $152,645,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OKE. Zions Bancorporation National Association UT increased its position in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Portus Wealth Advisors LLC bought a new stake in shares of ONEOK during the 1st quarter worth approximately $33,000. Elyxium Wealth LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $29,000. Wilkerson Advisory Group LLC boosted its holdings in shares of ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after buying an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC bought a new position in shares of ONEOK in the fourth quarter valued at $29,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of NYSE OKE opened at $89.44 on Tuesday. The stock’s fifty day moving average price is $89.40 and its two-hundred day moving average price is $86.18. The firm has a market cap of $56.36 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 5.01 and a beta of 0.73. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm earned $1.04 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio is presently 76.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. TD Cowen boosted their target price on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Morgan Stanley increased their price target on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Jefferies Financial Group boosted their price objective on shares of ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Citigroup raised their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Barclays lowered their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus price target of $92.44.

Key Stories Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

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.