Eventide Asset Management LLC Makes New $1.65 Million Investment in ONEOK, Inc. $OKE

Eventide Asset Management LLC purchased a new position in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,362 shares of the utilities provider’s stock, valued at approximately $1,651,000.

Other large investors have also bought and sold shares of the company. Zions Bancorporation National Association UT increased its stake in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares during the period. Elyxium Wealth LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $29,000. SRH Advisors LLC increased its stake in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares during the period. Accredited Wealth Management LLC increased its stake in shares of ONEOK by 342.5% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after buying an additional 387 shares during the period. Finally, J.Safra Asset Management Corp purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $37,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial boosted their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Mizuho set a $89.00 target price on ONEOK in a research note on Monday, February 23rd. Finally, Jefferies Financial Group boosted their target price on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average price target of $91.88.

ONEOK Price Performance

Shares of OKE stock opened at $90.40 on Monday. The stock has a market cap of $56.95 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 6.77 and a beta of 0.74. The business’s fifty day moving average is $88.31 and its 200 day moving average is $82.66. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the previous year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts expect that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is presently 76.29%.

ONEOK 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.