Advisors Capital Management LLC Acquires New Shares in ONEOK, Inc. $OKE

Advisors Capital Management LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 843,437 shares of the utilities provider's stock, valued at approximately $73,328,000. Advisors Capital Management LLC owned about 0.13% of ONEOK at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT lifted its holdings in ONEOK by 73.3% in the fourth 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 bought a new stake in shares of ONEOK during the 4th quarter worth about $29,000. Cornerstone Financial Management LLC acquired a new stake in shares of ONEOK in the 4th quarter worth approximately $29,000. Portus Wealth Advisors LLC acquired a new stake in shares of ONEOK in the 1st quarter worth approximately $33,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in shares of ONEOK by 51.4% in the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

NYSE OKE opened at $94.69 on Friday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $97.90. The business's fifty day moving average is $90.03 and its two-hundred day moving average is $88.16. The stock has a market capitalization of $59.69 billion, a P/E ratio of 16.33, a P/E/G ratio of 2.69 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the company posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.82 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK's payout ratio is currently 73.79%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. Barclays lowered their price target on ONEOK from $90.00 to $88.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Wells Fargo & Company cut their price objective on ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Finally, TD Cowen lifted their target price on ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and an average price target of $91.94.

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.

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