Castleark Management LLC Purchases Shares of 34,458 ONEOK, Inc. $OKE

Key Points

• Castleark Management initiated a position in ONEOK during the second quarter, purchasing 34,458 shares valued at approximately $3.0 million. Institutional investors collectively own 69.13% of the company.
• Analysts maintain a “Moderate Buy” consensus on OKE, with an average price target of $91.94; individual ratings range from Hold to Strong Buy.
• ONEOK reported quarterly EPS of $1.53, exceeding estimates of $1.46, and paid a quarterly dividend of $1.07 per share, equivalent to a 4.5% annualized yield.

Castleark Management LLC acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 34,458 shares of the utilities provider's stock, valued at approximately $2,996,000.

Several other hedge funds have also modified their holdings of OKE. Triune Financial Partners LLC purchased a new position in ONEOK in the fourth quarter worth $1,151,000. Swiss Life Asset Management Ltd increased its position in shares of ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Castle Rock Wealth Management LLC lifted its holdings in shares of ONEOK by 360.0% during the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock valued at $2,815,000 after purchasing an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC boosted its position 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 worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Finally, Intact Investment Management Inc. boosted its position in shares of ONEOK by 56.3% in the 4th quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider's stock worth $5,917,000 after purchasing an additional 29,000 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on OKE shares. TD Cowen upped their target price on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Citigroup raised their price target on ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Barclays dropped their price target on ONEOK from $90.00 to $88.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 8th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.94.

ONEOK Stock Up 3.5%

Shares of OKE stock opened at $94.93 on Thursday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. The firm has a market capitalization of $59.84 billion, a PE ratio of 16.37, a P/E/G ratio of 2.56 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 stock's 50-day simple moving average is $90.50 and its 200-day simple moving average is $88.58.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to the consensus estimate 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 company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current 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 dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK's payout ratio is presently 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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