Earnest Partners LLC Acquires 20,264 Shares of ONEOK, Inc. $OKE

Key Points

• Earnest Partners LLC increased its stake in ONEOK by 7.4%, buying 20,264 shares to hold 294,847 shares valued at $21.515 million at the end of the quarter.
• ONEOK raised its quarterly dividend to $1.07 (annualized $4.28), implying a roughly 5.0% yield and a payout ratio of 78.97%.
• ONEOK beat the quarter with $1.55 EPS vs. $1.50 expected and $9.07B revenue vs. $8.77B expected, set FY2026 guidance of 5.04–5.87 EPS, and carries a MarketBeat consensus rating of "Hold" with an $86.60 price target.

Earnest Partners LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 294,847 shares of the utilities provider's stock after buying an additional 20,264 shares during the quarter. Earnest Partners LLC's holdings in ONEOK were worth $21,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in ONEOK by 0.9% during the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider's stock valued at $5,634,932,000 after purchasing an additional 711,619 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider's stock worth $1,760,833,000 after purchasing an additional 613,674 shares during the period. Invesco Ltd. boosted its holdings in shares of ONEOK by 6.3% in the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider's stock worth $650,827,000 after purchasing an additional 532,267 shares during the period. First Eagle Investment Management LLC increased its position in shares of ONEOK by 24.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider's stock valued at $566,920,000 after purchasing an additional 1,513,042 shares during the last quarter. Finally, Norges Bank purchased a new stake in ONEOK during the 2nd quarter valued at $562,832,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on OKE shares. Barclays raised their price target on ONEOK from $76.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Morgan Stanley reissued an "overweight" rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. JPMorgan Chase & Co. lowered shares of ONEOK from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Wolfe Research cut shares of ONEOK from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 25th. Finally, Scotiabank reiterated an "outperform" rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of "Hold" and a consensus price target of $86.60.

ONEOK Trading Up 0.6%

Shares of NYSE OKE opened at $85.44 on Monday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The firm has a market cap of $53.81 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 6.50 and a beta of 0.93. The business has a fifty day simple moving average of $80.59 and a two-hundred day simple moving average of $74.77. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.50 by $0.05. The firm 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 quarter last year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is a positive change from ONEOK's previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. ONEOK's payout ratio is 78.97%.

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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