Gabelli Funds LLC Boosts Holdings in ONEOK, Inc. $OKE

Gabelli Funds LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 846,675 shares of the utilities provider’s stock after purchasing an additional 7,175 shares during the period. Gabelli Funds LLC’s holdings in ONEOK were worth $76,531,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OKE. Capital International Investors acquired a new stake in ONEOK during the 4th quarter worth approximately $586,500,000. Norges Bank acquired a new position in shares of ONEOK in the fourth quarter worth $564,867,000. First Eagle Investment Management LLC grew its stake in shares of ONEOK by 46.3% in 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 in the last quarter. Danske Bank A S increased its position in shares of 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 period. Finally, Man Group plc increased its position in shares of 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 period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $93.13 on Friday. The company has a market cap of $58.69 billion, a P/E ratio of 16.60, a PEG ratio of 5.02 and a beta of 0.73. The firm has a fifty day moving average price of $89.48 and a 200 day moving average price of $85.96. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter in the prior year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $1.07 dividend. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. ONEOK’s dividend payout ratio is presently 76.29%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Jefferies Financial Group increased their price target on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley upped their target price on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.44.

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.