Verity & Verity LLC Raises Holdings in ONEOK, Inc. $OKE

Verity & Verity LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 14.4% in the 4th quarter, Holdings Channel reports. The firm owned 306,071 shares of the utilities provider’s stock after purchasing an additional 38,637 shares during the period. ONEOK accounts for approximately 1.7% of Verity & Verity LLC’s portfolio, making the stock its 18th largest position. Verity & Verity LLC’s holdings in ONEOK were worth $22,496,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in OKE. Norges Bank purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $564,867,000. First Eagle Investment Management LLC boosted its position in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after acquiring an additional 3,596,089 shares during the last quarter. Danske Bank A S boosted its position in ONEOK by 3,538.4% during the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after acquiring an additional 1,644,945 shares during the last quarter. Man Group plc boosted its position in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after acquiring an additional 1,161,352 shares during the last quarter. Finally, Swiss Life Asset Management Ltd boosted its position in ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after acquiring an additional 1,045,976 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $84.05 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The firm’s 50-day moving average is $88.85 and its two-hundred day moving average is $81.26. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The company has a market capitalization of $52.95 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 6.23 and a beta of 0.78.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period last year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Analysts predict that ONEOK, Inc. will post 5.76 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 5.1%. ONEOK’s payout ratio is 76.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Morgan Stanley boosted their price target on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Truist Financial boosted their price target on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $91.88.

About ONEOK

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.