Renaissance Investment Group LLC Sells 8,696 Shares of ONEOK, Inc. $OKE

Renaissance Investment Group LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE) by 25.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,964 shares of the utilities provider’s stock after selling 8,696 shares during the period. Renaissance Investment Group LLC’s holdings in ONEOK were worth $1,835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC increased its holdings in shares of ONEOK by 0.8% during 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 last quarter. Focused Wealth Management Inc lifted its holdings in ONEOK by 4.3% in the 3rd quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after purchasing an additional 142 shares during the last quarter. Silver Lake Advisory LLC lifted its holdings in ONEOK by 1.4% in the 3rd quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock worth $787,000 after purchasing an additional 147 shares during the last quarter. Alternative Investment Advisors LLC. boosted its position in ONEOK by 1.2% during the second quarter. Alternative Investment Advisors LLC. now owns 12,479 shares of the utilities provider’s stock worth $1,019,000 after purchasing an additional 148 shares during the period. Finally, JFS Wealth Advisors LLC grew its holdings in ONEOK by 9.6% during the third quarter. JFS Wealth Advisors LLC now owns 1,720 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. Scotiabank reissued an “outperform” rating and set a $91.00 target price on shares of ONEOK in a research report on Friday, January 16th. Finally, Barclays upped their price target on shares of ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $86.33.

ONEOK Stock Up 2.4%

OKE opened at $88.27 on Friday. The business has a 50 day moving average of $81.76 and a 200-day moving average of $75.08. The stock has a market capitalization of $55.59 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 6.56 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 1-year low of $64.02 and a 1-year high of $103.64.

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

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is presently 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.