Denali Advisors LLC Purchases New Holdings in ONEOK, Inc. $OKE

Denali Advisors LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,003 shares of the utilities provider’s stock, valued at approximately $522,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. Capital International Investors bought a new position in ONEOK during the 4th quarter valued at $586,500,000. Norges Bank acquired a new stake in ONEOK during the fourth quarter worth about $564,867,000. BlackRock Inc. grew its holdings in shares of ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock valued at $5,610,887,000 after purchasing an additional 5,148,768 shares during the last quarter. First Eagle Investment Management LLC boosted its position in ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of ONEOK during the second quarter valued at $204,672,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $94.69 on Friday. The company has a market capitalization of $59.69 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. The company’s fifty day moving average price is $90.03 and its 200 day moving average price is $88.16. ONEOK, Inc. has a one year low of $64.02 and a one year high of $97.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. The business had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.82 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK’s payout ratio is presently 73.79%.

Analyst Upgrades and Downgrades

OKE has been the subject of a number of analyst reports. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Royal Bank Of Canada upped their target price on ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Citigroup boosted their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $92.00 to $89.00 in a report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $91.94.

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.