Dark Forest Capital Management LP Raises Holdings in ONEOK, Inc. $OKE

Key Points

• Dark Forest Capital Management LP increased its holdings in ONEOK, Inc. by 409.5% in the first quarter, bringing its investment to approximately $4.01 million.
• ONEOK reported $1.34 earnings per share for the last quarter, exceeding analysts' estimates, and had a net revenue of $8.21 billion during the period.
• The company declared a quarterly dividend of $1.03 per share, with an annualized yield of 5.5% and a payout ratio of 80.31%.

Dark Forest Capital Management LP raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 409.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,372 shares of the utilities provider's stock after acquiring an additional 32,448 shares during the period. Dark Forest Capital Management LP's holdings in ONEOK were worth $4,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Greenline Partners LLC acquired a new position in ONEOK in the fourth quarter valued at $32,000. First Pacific Financial acquired a new position in ONEOK in the first quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new position in ONEOK in the fourth quarter valued at $37,000. Financial Network Wealth Advisors LLC boosted its stake in ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 370 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new position in ONEOK in the first quarter valued at $39,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

NYSE:OKE traded down $1.76 during mid-day trading on Friday, reaching $72.62. The stock had a trading volume of 4,955,599 shares, compared to its average volume of 3,115,726. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The firm has a market capitalization of $45.74 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.73 and a beta of 1.04. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07. The business has a 50 day simple moving average of $78.08 and a 200 day simple moving average of $84.11.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter last year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price target on the stock. Mizuho lowered their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Finally, Barclays set a $83.00 price target on ONEOK in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.