Dearborn Partners LLC Takes $7.86 Million Position in ONEOK, Inc. $OKE

Key Points

• Dearborn Partners acquired 86,960 ONEOK shares worth approximately $7.86 million in the second quarter. Institutional investors collectively own 69.13% of the company, with BlackRock among the largest holders.
• ONEOK exceeded quarterly expectations, reporting $1.53 in EPS versus the $1.46 consensus estimate and $12.05 billion in revenue versus $8.95 billion expected.
• The company pays a quarterly dividend of $1.07 per share, equating to an annualized $4.28 dividend and 4.5% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $91.94.

Dearborn Partners LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,960 shares of the utilities provider's stock, valued at approximately $7,860,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital International Investors acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $586,500,000. Norges Bank acquired a new position in ONEOK in the fourth quarter valued at approximately $564,867,000. BlackRock Inc. lifted its holdings in ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock valued at $5,610,887,000 after acquiring an additional 5,148,768 shares during the last quarter. Legal & General Group Plc purchased a new position in ONEOK in the second quarter worth approximately $389,985,000. Finally, Kayne Anderson Capital Advisors LP purchased a new position in ONEOK in the second quarter worth approximately $335,958,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.0%

Shares of NYSE OKE opened at $94.87 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The business's 50 day moving average is $90.70 and its two-hundred day moving average is $88.67. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90. The firm has a market cap of $59.81 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.65 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The business had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the business posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts predict that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is 73.79%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings restated a "buy (b-)" rating on shares of ONEOK in a research report on Thursday, August 13th. Truist Financial increased their price target on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Scotiabank lowered shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.94.

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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