HUB Investment Partners LLC Trims Stock Position in ONEOK, Inc. $OKE

HUB Investment Partners LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 15.5% during the third quarter, HoldingsChannel reports. The fund owned 173,880 shares of the utilities provider’s stock after selling 31,796 shares during the period. HUB Investment Partners LLC’s holdings in ONEOK were worth $12,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. City Holding Co. acquired a new position in shares of ONEOK in the 3rd quarter valued at $28,000. Winnow Wealth LLC acquired a new stake in shares of ONEOK during the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates acquired a new stake in shares of ONEOK during the 3rd quarter worth about $29,000. Financial Consulate Inc. purchased a new stake in ONEOK in the 3rd quarter valued at about $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in ONEOK in the second quarter valued at about $34,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 1.6%

ONEOK stock opened at $86.95 on Friday. The firm has a market capitalization of $54.76 billion, a P/E ratio of 16.04, a P/E/G ratio of 5.06 and a beta of 0.93. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The stock’s fifty day simple moving average is $79.43 and its 200-day simple moving average is $74.38.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is 78.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Jefferies Financial Group started coverage on shares of ONEOK in a research report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective for the company. Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Scotiabank reissued an “outperform” rating and issued a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Finally, Mizuho set a $89.00 price target on ONEOK in a research note on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $86.47.

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.