Van ECK Associates Corp Increases Holdings in ONEOK, Inc. $OKE

Van ECK Associates Corp increased its stake in ONEOK, Inc. (NYSE:OKE) by 20.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 335,890 shares of the utilities provider’s stock after buying an additional 56,633 shares during the period. Van ECK Associates Corp’s holdings in ONEOK were worth $24,510,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in OKE. Bank of Montreal Can increased its stake in shares of ONEOK by 13.0% during the 3rd quarter. Bank of Montreal Can now owns 701,998 shares of the utilities provider’s stock worth $51,225,000 after purchasing an additional 80,702 shares during the last quarter. Legal & General Group Plc grew its holdings in ONEOK by 1.6% during the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock valued at $380,785,000 after purchasing an additional 80,683 shares during the period. Fieldview Capital Management LLC raised its stake in shares of ONEOK by 23.1% in the third quarter. Fieldview Capital Management LLC now owns 27,444 shares of the utilities provider’s stock valued at $2,003,000 after buying an additional 5,152 shares during the period. Russell Investments Group Ltd. lifted its position in shares of ONEOK by 1.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider’s stock valued at $89,910,000 after buying an additional 16,871 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of ONEOK by 110.7% during the 3rd quarter. Schroder Investment Management Group now owns 327,716 shares of the utilities provider’s stock worth $23,956,000 after acquiring an additional 172,150 shares during the period. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OKE shares. Wells Fargo & Company lowered their price objective on ONEOK from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. JPMorgan Chase & Co. cut shares of ONEOK from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Jefferies Financial Group began coverage on shares of ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective for the company. Finally, Mizuho set a $89.00 target price on ONEOK in a research report on Monday, February 23rd. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.47.

ONEOK Price Performance

OKE stock opened at $85.73 on Thursday. The firm has a 50 day moving average of $80.14 and a 200-day moving average of $74.62. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $53.99 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 5.04 and a beta of 0.93. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same period in the prior year, the company posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a dividend of $1.07 per share. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s dividend payout ratio is 78.97%.

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.