Hennessy Advisors Inc. Sells 9,700 Shares of ONEOK, Inc. $OKE

Hennessy Advisors Inc. lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 395,954 shares of the utilities provider’s stock after selling 9,700 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.06% of ONEOK worth $29,103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of ONEOK by 0.9% in the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock worth $5,634,932,000 after purchasing an additional 711,619 shares during the last quarter. Invesco Ltd. boosted its stake in shares of ONEOK by 6.3% in the third quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after acquiring an additional 532,267 shares during the last quarter. First Eagle Investment Management LLC lifted its position in ONEOK by 24.2% during the third quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock worth $566,920,000 after buying an additional 1,513,042 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in ONEOK by 14.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock worth $396,462,000 after buying an additional 703,834 shares in the last quarter. Finally, Legal & General Group Plc raised its position in ONEOK by 1.6% in 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. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $83.55 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average of $86.68 and a two-hundred day moving average of $77.38. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $95.30. The company has a market cap of $52.64 billion, a P/E ratio of 15.42, a PEG ratio of 6.30 and a beta of 0.84.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, February 2nd. 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 5.1%. ONEOK’s dividend payout ratio is presently 78.97%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $81.00 to $100.00 in a research note on Wednesday, March 25th. Scotiabank reissued an “outperform” rating on shares of ONEOK in a report on Monday, April 13th. Royal Bank Of Canada boosted their target price on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Thursday, March 19th. Truist Financial assumed coverage on ONEOK in a research note on Tuesday, March 24th. They set a “hold” rating and a $91.00 target price for the company. Finally, Morgan Stanley increased their target price on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $89.69.

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.