Hennessy Advisors Inc. Trims Position in ONEOK, Inc. $OKE

Hennessy Advisors Inc. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,114 shares of the utilities provider’s stock after selling 35,500 shares during the quarter. ONEOK makes up 1.0% of Hennessy Advisors Inc.’s portfolio, making the stock its 23rd biggest position. Hennessy Advisors Inc. owned 0.06% of ONEOK worth $31,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT lifted its position in shares of ONEOK by 73.3% in 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 period. Pin Oak Investment Advisors Inc. bought a new position in ONEOK in the second quarter worth about $28,000. Elyxium Wealth LLC bought a new position in ONEOK in the fourth quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new stake in ONEOK in the fourth quarter worth about $29,000. Finally, Transamerica Financial Advisors LLC boosted its position in ONEOK by 69.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Royal Bank Of Canada upped their target price on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Truist Financial lifted their price target on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Freedom Capital raised ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Citigroup increased their price objective on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK Stock Up 0.2%

Shares of NYSE:OKE opened at $94.88 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The stock has a fifty day simple moving average of $90.89 and a two-hundred day simple moving average of $88.71. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $97.90. The stock has a market capitalization of $59.81 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.64 and a beta of 0.73.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the prior year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

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.