Tevis Investment Management Buys Shares of 22,845 ONEOK, Inc. $OKE

Tevis Investment Management purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the third quarter, HoldingsChannel reports. The firm purchased 22,845 shares of the utilities provider’s stock, valued at approximately $1,667,000.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. City Holding Co. purchased a new position in ONEOK during the 3rd quarter valued at about $28,000. Winnow Wealth LLC purchased a new stake in shares of ONEOK in the third quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new stake in shares of ONEOK in the third quarter valued at about $29,000. Financial Consulate Inc. acquired a new stake in shares of ONEOK in the third quarter valued at approximately $29,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of ONEOK during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $86.21 on Thursday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $103.64. The company’s 50 day simple moving average is $81.45 and its 200 day simple moving average is $74.99. The company has a market capitalization of $54.29 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 6.59 and a beta of 0.93. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71.

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

ONEOK Increases Dividend

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

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $87.00 to $83.00 in a research report on Tuesday, January 27th. Barclays increased their target price on ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Mizuho set a $89.00 price target on ONEOK in a report on Monday, February 23rd. Wolfe Research lowered ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Finally, Scotiabank reiterated an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $86.60.

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.