BlackRock Inc. Grows Stock Position in ONEOK, Inc. $OKE

Key Points

• BlackRock increased its ONEOK position by 8.7% in the second quarter, adding 5.15 million shares to own 64.54 million shares, or approximately 10.24% of the company. Institutional investors collectively hold 69.13% of ONEOK’s stock.
• ONEOK reported quarterly earnings of $1.53 per share, beating estimates of $1.46, while revenue reached $12.05 billion versus expectations of $8.95 billion. The company’s full-year 2026 EPS guidance is $5.68.
• ONEOK paid a quarterly dividend of $1.07, representing an annualized dividend of $4.28 and a 4.5% yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $91.81.

BlackRock Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 64,537,467 shares of the utilities provider's stock after purchasing an additional 5,148,768 shares during the period. BlackRock Inc. owned about 10.24% of ONEOK worth $5,610,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital International Investors bought a new stake in ONEOK during the fourth quarter valued at about $586,500,000. Norges Bank purchased a new stake in ONEOK in the fourth quarter worth about $564,867,000. First Eagle Investment Management LLC raised 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 buying an additional 3,596,089 shares during the period. Danske Bank A S raised its stake in shares of ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider's stock worth $124,320,000 after buying an additional 1,644,945 shares during the period. Finally, Man Group plc lifted its position in shares of ONEOK by 292.1% during the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider's stock valued at $127,261,000 after buying an additional 1,161,352 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.4%

Shares of OKE opened at $95.33 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The stock has a market capitalization of $60.09 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 7.10 and a beta of 0.73. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The business's 50 day simple moving average is $89.62 and its 200-day simple moving average is $87.80.

ONEOK (NYSE:OKE - Get Free Report) last posted its 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 firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is presently 73.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKE. 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. Morgan Stanley restated an "equal weight" rating and set a $103.00 target price (down from $113.00) on shares of ONEOK in a research note on Wednesday, July 29th. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Finally, Barclays decreased their price objective on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.81.

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.

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source