Ameritas Advisory Services LLC Increases Position in ONEOK, Inc. $OKE

Key Points

• Ameritas Advisory Services increased its ONEOK position by 287.5% in the second quarter, reaching 41,444 shares valued at approximately $3.6 million. Institutional investors collectively own 69.13% of the company.
• Analyst sentiment remains cautious, with ONEOK holding an average “Hold” rating and a consensus price target of $95.50, despite recent target increases from Wells Fargo and Jefferies.
• ONEOK reported quarterly EPS of $1.53, exceeding estimates of $1.46, and generated $12.05 billion in revenue. The company pays a quarterly dividend of $1.07, representing a 4.4% annualized yield.

Ameritas Advisory Services LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 287.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,444 shares of the utilities provider's stock after purchasing an additional 30,748 shares during the period. Ameritas Advisory Services LLC's holdings in ONEOK were worth $3,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. Castle Rock Wealth Management LLC lifted its holdings in ONEOK by 360.0% during the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock worth $2,815,000 after buying an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 46.3% in 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 acquiring an additional 3,596,089 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of ONEOK by 21.8% in the 2nd quarter. Empowered Funds LLC now owns 73,242 shares of the utilities provider's stock valued at $6,368,000 after acquiring an additional 13,103 shares during the last quarter. Matrix Trust Co acquired a new stake in shares of ONEOK during the 2nd quarter valued at approximately $1,245,000. Finally, ABC Arbitrage SA raised its position in shares of ONEOK by 59.7% during the 1st quarter. ABC Arbitrage SA now owns 31,389 shares of the utilities provider's stock valued at $2,837,000 after acquiring an additional 11,740 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on OKE. Wells Fargo & Company lifted their price objective on shares of ONEOK from $98.00 to $106.00 and gave the stock an "overweight" rating in a report on Wednesday, September 2nd. TD Cowen increased their target price on shares of ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Weiss Ratings upgraded ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Finally, Jefferies Financial Group raised their price target on ONEOK from $95.00 to $105.00 and gave the stock a "hold" rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, ONEOK has an average rating of "Hold" and an average target price of $95.50.

ONEOK Stock Up 2.3%

OKE stock opened at $97.62 on Wednesday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $99.85. The company has a market capitalization of $61.54 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. The firm's 50-day moving average is $92.02 and its two-hundred day moving average is $89.28. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. ONEOK's dividend payout ratio is 73.79%.

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.

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