D.A. Davidson & CO. Has $15.99 Million Stock Holdings in ONEOK, Inc. $OKE

Key Points

• D.A. Davidson & Co. increased its ONEOK stake by 62.5% in the first quarter, bringing holdings to 176,948 shares worth about $16.0 million.
• ONEOK reported Q1 earnings of $1.23 per share, missing analyst expectations, though revenue came in above estimates at $9.62 billion.
• The company declared a quarterly dividend of $1.07 per share, implying an annualized yield of about 4.6%; the stock recently traded near $92.86, close to its 52-week high.

D.A. Davidson & CO. grew its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 62.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,948 shares of the utilities provider's stock after acquiring an additional 68,046 shares during the period. D.A. Davidson & CO.'s holdings in ONEOK were worth $15,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Coldstream Capital Management Inc. increased its stake in shares of ONEOK by 20.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider's stock worth $3,422,000 after purchasing an additional 7,843 shares during the last quarter. Aberdeen Group plc boosted its position in ONEOK by 46.0% during the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider's stock worth $70,388,000 after purchasing an additional 301,654 shares during the period. Swiss Life Asset Management Ltd increased its holdings in shares of ONEOK by 219.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock valued at $111,897,000 after purchasing an additional 1,045,976 shares during the last quarter. Triune Financial Partners LLC bought a new position in shares of ONEOK in the fourth quarter valued at about $1,151,000. Finally, Royal Fund Management LLC lifted its stake in shares of ONEOK by 40.8% during the 4th quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider's stock worth $5,907,000 after buying an additional 23,281 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OKE. JPMorgan Chase & Co. upped their price target on shares of 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 ONEOK from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Scotiabank cut 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 report on Thursday, April 30th. Jefferies Financial Group boosted their price target on ONEOK from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $92.06.

ONEOK Trading Up 2.0%

Shares of NYSE:OKE opened at $92.86 on Friday. The business's 50 day simple moving average is $89.01 and its 200 day simple moving average is $85.24. 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 $58.52 billion, a P/E ratio of 16.55, a P/E/G ratio of 6.80 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the prior year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's payout ratio is 76.29%.

ONEOK Company 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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