Donaldson Capital Management LLC Has $30.59 Million Stock Position in ONEOK, Inc. $OKE

Key Points

• Donaldson Capital Management increased its ONEOK stake by 1,389.5% in the second quarter, acquiring 328,197 additional shares for a total position worth approximately $30.6 million. Institutional investors collectively own 69.13% of the company.
• ONEOK shares opened at $94.99, near their 52-week high of $96.07. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $91.81.
• ONEOK exceeded quarterly earnings expectations, reporting $1.53 in adjusted EPS versus a $1.46 consensus and $12.05 billion in revenue. The company also pays a quarterly dividend of $1.07 per share, equivalent to a 4.5% annualized yield.

Donaldson Capital Management LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1,389.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,817 shares of the utilities provider's stock after purchasing an additional 328,197 shares during the quarter. Donaldson Capital Management LLC owned about 0.06% of ONEOK worth $30,587,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Triune Financial Partners LLC bought a new stake in ONEOK in the fourth quarter valued at approximately $1,151,000. Swiss Life Asset Management Ltd boosted its position in shares of ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Castle Rock Wealth Management LLC boosted its position in shares of ONEOK by 360.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock worth $2,815,000 after purchasing an additional 28,343 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. Finally, Torray Investment Partners LLC bought a new stake in shares of ONEOK in the 4th quarter valued at $19,109,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

OKE has been the topic of several recent analyst reports. Truist Financial lifted their target price on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Wall Street Zen upgraded ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Royal Bank Of Canada raised their price target on ONEOK from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Scotiabank cut ONEOK from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Freedom Capital upgraded ONEOK from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus price target of $91.81.

ONEOK Stock Up 2.5%

NYSE:OKE opened at $94.99 on Friday. The stock has a 50-day simple moving average of $89.48 and a 200 day simple moving average of $87.61. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company has a market cap of $59.88 billion, a PE ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the prior year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.87 EPS for the current fiscal year.

ONEOK Announces Dividend

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

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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