CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 181,000 Shares of ONEOK, Inc. $OKE

Key Points

• Cushing Asset Management LP dba NXG Investment Management boosted its stake in ONEOK by 16.2% in Q4, buying 181,000 shares to hold 1,297,916 shares — about 5.5% of the fund's holdings and valued at roughly $95.4 million (≈0.21% of ONEOK).
• ONEOK raised its quarterly dividend to $1.07 (annualized $4.28), implying a ~5.1% yield with a dividend payout ratio near 79%.
• Analysts show a consensus rating of "Moderate Buy" with a $89.69 target; ONEOK beat Q4 EPS estimates ($1.55 vs. $1.50) and set FY2026 guidance of 5.04–5.87 EPS, near analyst expectations of ~5.07.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,297,916 shares of the utilities provider's stock after buying an additional 181,000 shares during the period. ONEOK accounts for approximately 5.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 5th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.21% of ONEOK worth $95,397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Forum Financial Management LP boosted its stake in ONEOK by 1,078.2% in the 4th quarter. Forum Financial Management LP now owns 154,564 shares of the utilities provider's stock worth $11,360,000 after buying an additional 141,445 shares during the last quarter. Benson Investment Management Company Inc. boosted its stake in ONEOK by 2.2% in the 4th quarter. Benson Investment Management Company Inc. now owns 75,530 shares of the utilities provider's stock worth $5,551,000 after buying an additional 1,655 shares during the last quarter. Trivium Point Advisory LLC boosted its stake in ONEOK by 12.3% in the 4th quarter. Trivium Point Advisory LLC now owns 9,791 shares of the utilities provider's stock worth $720,000 after buying an additional 1,075 shares during the last quarter. Merit Financial Group LLC boosted its stake in ONEOK by 15.2% in the 4th quarter. Merit Financial Group LLC now owns 22,122 shares of the utilities provider's stock worth $1,626,000 after buying an additional 2,914 shares during the last quarter. Finally, Welch Group LLC boosted its stake in ONEOK by 4.7% in the 4th quarter. Welch Group LLC now owns 14,737 shares of the utilities provider's stock worth $1,083,000 after buying an additional 668 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKE shares. Jefferies Financial Group lifted their price objective on ONEOK from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. UBS Group reduced their price objective on ONEOK from $114.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, January 22nd. Barclays lifted their price objective on ONEOK from $76.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Truist Financial started coverage on ONEOK in a research note on Tuesday, March 24th. They issued a "hold" rating and a $91.00 price objective on the stock. Finally, Royal Bank Of Canada lifted their price objective on ONEOK from $79.00 to $84.00 and gave the company a "sector perform" rating in a research note on Thursday, March 19th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $89.69.

ONEOK Stock Performance

NYSE OKE opened at $83.55 on Friday. The firm has a market capitalization of $52.64 billion, a P/E ratio of 15.42, a P/E/G ratio of 6.43 and a beta of 0.84. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $95.30. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The business's 50-day simple moving average is $86.68 and its 200-day simple moving average is $77.35.

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

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 5.1%. The ex-dividend date was Monday, February 2nd. This is an increase from ONEOK's previous quarterly dividend of $1.03. ONEOK's dividend payout ratio (DPR) is 78.97%.

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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