Butensky & Cohen Financial Security Inc. Makes New Investment in ONEOK, Inc. $OKE

Key Points

• Butensky & Cohen Financial Security Inc. acquired 66,466 ONEOK shares worth approximately $5.8 million, making OKE about 1.4% of its portfolio. Institutional investors and hedge funds collectively own 69.13% of the stock.
• ONEOK reported quarterly EPS of $1.53, beating estimates of $1.46, while revenue reached $12.05 billion versus expectations of $8.95 billion. The company’s shares recently traded at $91.43.
• ONEOK declared a quarterly dividend of $1.07, equivalent to $4.28 annually and a 4.7% yield. Analysts collectively maintain a “Moderate Buy” rating with an average price target of $91.81.

Butensky & Cohen Financial Security Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 66,466 shares of the utilities provider's stock, valued at approximately $5,779,000. ONEOK accounts for approximately 1.4% of Butensky & Cohen Financial Security Inc.'s portfolio, making the stock its 28th biggest position.

Several other hedge funds have also modified their holdings of the stock. Capital International Investors purchased a new stake in ONEOK during the 4th quarter worth about $586,500,000. Norges Bank purchased a new position in shares of ONEOK in the 4th quarter valued at about $564,867,000. First Eagle Investment Management LLC boosted its stake 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 buying an additional 3,596,089 shares during the period. Danske Bank A S grew 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 buying an additional 1,644,945 shares in the last quarter. Finally, Man Group plc grew 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 buying an additional 1,161,352 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 1.2%

OKE opened at $91.43 on Wednesday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The company has a market cap of $57.64 billion, a P/E ratio of 15.76, a PEG ratio of 4.71 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. The business's 50-day simple moving average is $89.16 and its 200-day simple moving average is $87.36.

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, topping the consensus estimate of $1.46 by $0.07. The firm 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 business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.87 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a $1.07 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. ONEOK's payout ratio is 73.79%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OKE. TD Cowen raised their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Sunday. Weiss Ratings raised shares of ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Freedom Capital upgraded shares of ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $103.00 price objective (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. One investment 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.

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