Clearbridge Investments LLC Boosts Stock Position in ONEOK, Inc. $OKE

Key Points

• Clearbridge Investments increased its stake in ONEOK by 8.5% in the fourth quarter, buying 347,516 additional shares and bringing its holdings to 4.44 million shares worth about $326 million.
• ONEOK reported mixed quarterly results: earnings of $1.23 per share missed estimates, but revenue of $9.62 billion came in above expectations. The company also guided for FY 2026 EPS of 5.530.
• The company paid a quarterly dividend of $1.07, or $4.28 annualized, for a yield of 4.8%, while analysts currently rate the stock a consensus Hold with an average price target of $91.88.

Clearbridge Investments LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,435,030 shares of the utilities provider's stock after buying an additional 347,516 shares during the period. Clearbridge Investments LLC owned 0.70% of ONEOK worth $325,975,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Disciplined Investments LLC lifted its position in shares of ONEOK by 0.6% during the 4th quarter. Disciplined Investments LLC now owns 21,577 shares of the utilities provider's stock valued at $1,586,000 after buying an additional 125 shares in the last quarter. TCV Trust & Wealth Management Inc. lifted its position in shares of ONEOK by 4.2% during the 4th quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider's stock valued at $242,000 after buying an additional 133 shares in the last quarter. Empowered Funds LLC lifted its position in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock valued at $1,782,000 after buying an additional 137 shares in the last quarter. Fourpath Capital Management LLC lifted its position in shares of ONEOK by 1.6% during the 4th quarter. Fourpath Capital Management LLC now owns 8,628 shares of the utilities provider's stock valued at $634,000 after buying an additional 140 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of ONEOK by 14.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,092 shares of the utilities provider's stock valued at $80,000 after buying an additional 142 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.8%

OKE stock opened at $88.26 on Friday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The company has a market capitalization of $55.61 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 6.60 and a beta of 0.74. The business has a 50 day simple moving average of $88.56 and a two-hundred day simple moving average of $81.89.

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

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK's payout ratio is presently 76.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKE. Barclays lifted their price objective on ONEOK from $82.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded ONEOK from a "sell" rating to a "hold" rating in a research note on Tuesday, May 26th. Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Citigroup upped their price target on ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, Truist Financial upped their price target on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $91.88.

About ONEOK

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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