Catalyst Capital Advisors LLC Lowers Position in ONEOK, Inc. $OKE

Key Points

• Catalyst Capital Advisors LLC reduced its stake in ONEOK by 7.6% in the first quarter, selling 15,886 shares and leaving it with 192,447 shares valued at about $17.4 million.
• Analyst sentiment on ONEOK remains mixed: the stock has an average Hold rating, with 8 Buy ratings and 10 Hold ratings, and an average price target of $92.06.
• ONEOK reported quarterly EPS of $1.23, below estimates, but revenue came in above expectations at $9.62 billion; the company also announced a $1.07 quarterly dividend, equal to a 4.6% annual yield.

Catalyst Capital Advisors LLC lowered its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,447 shares of the utilities provider's stock after selling 15,886 shares during the quarter. Catalyst Capital Advisors LLC's holdings in ONEOK were worth $17,395,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OKE. Zions Bancorporation National Association UT lifted its holdings in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after acquiring an additional 143 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in ONEOK in the 4th quarter valued at approximately $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK during the fourth quarter worth $29,000. SRH Advisors LLC boosted its position in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider's stock worth $32,000 after buying an additional 241 shares during the period. Finally, Portus Wealth Advisors LLC purchased a new position in shares of ONEOK during the first quarter worth $33,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OKE. JPMorgan Chase & Co. lifted their price objective on ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Freedom Capital upgraded shares of ONEOK from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Scotiabank lowered shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Truist Financial lifted their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded shares of ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $92.06.

ONEOK Price Performance

ONEOK stock opened at $93.57 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $89.18 and a 200-day simple moving average of $85.30. The stock has a market cap of $58.96 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 6.95 and a beta of 0.73. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the prior year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities analysts expect that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced 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. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is 76.29%.

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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