Cottage Street Advisors LLC Sells 36,511 Shares of ONEOK, Inc. $OKE

Key Points

• Cottage Street Advisors reduced its position in ONEOK by 76.6%, selling 36,511 shares and leaving 11,147 shares worth $819,000 at the end of the quarter.
• ONEOK beat quarterly estimates with $1.55 EPS on $9.07 billion revenue, set FY2026 guidance of 5.040–5.870 EPS, and raised its quarterly dividend to $1.07 (annualized $4.28, ~5.1% yield).

Cottage Street Advisors LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 76.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,147 shares of the utilities provider's stock after selling 36,511 shares during the period. Cottage Street Advisors LLC's holdings in ONEOK were worth $819,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. TCV Trust & Wealth Management Inc. lifted its holdings in 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 purchasing an additional 133 shares during the last quarter. Empowered Funds LLC raised its stake in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock worth $1,782,000 after acquiring an additional 137 shares during the last quarter. Fourpath Capital Management LLC raised its stake in shares of ONEOK by 1.6% in the fourth quarter. Fourpath Capital Management LLC now owns 8,628 shares of the utilities provider's stock worth $634,000 after acquiring an additional 140 shares during the last quarter. Focused Wealth Management Inc raised its stake in shares of ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider's stock worth $251,000 after acquiring an additional 142 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its stake in shares of ONEOK by 8.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,864 shares of the utilities provider's stock worth $137,000 after acquiring an additional 144 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.8%

Shares of NYSE OKE opened at $84.17 on Thursday. The stock has a market cap of $53.03 billion, a P/E ratio of 15.53, a P/E/G ratio of 6.40 and a beta of 0.84. The firm has a 50 day moving average price of $86.55 and a 200 day moving average price of $77.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $95.30.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The firm had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $8.77 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is an increase from ONEOK's previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a yield of 5.1%. ONEOK's payout ratio is presently 78.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial assumed coverage on shares of ONEOK in a research note on Tuesday, March 24th. They issued a "hold" rating and a $91.00 target price for the company. UBS Group dropped their target price on shares of ONEOK from $114.00 to $103.00 and set a "buy" rating for the company in a research note on Thursday, January 22nd. Wolfe Research downgraded shares of ONEOK from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 25th. JPMorgan Chase & Co. downgraded shares of ONEOK from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Finally, Mizuho set a $89.00 target price on shares of ONEOK in a research note on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $89.69.

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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