First Eagle Investment Management LLC Has $835.35 Million Stock Position in ONEOK, Inc. $OKE

Key Points

• First Eagle Investment Management increased its stake in ONEOK by 46.3% in the fourth quarter, bringing its holding to 11.37 million shares worth about $835.35 million.
• ONEOK shares were up 3.1% and the stock recently traded at $87.79, with the company valuing at a market cap of $55.31 billion and a 4.9% dividend yield.
• The company reported quarterly earnings of $1.23 per share, missing estimates, while revenue of $9.62 billion beat expectations; analysts currently have an average rating of Hold with a $91.88 price target.

First Eagle Investment Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 46.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,365,304 shares of the utilities provider's stock after acquiring an additional 3,596,089 shares during the period. ONEOK accounts for 1.5% of First Eagle Investment Management LLC's holdings, making the stock its 29th largest position. First Eagle Investment Management LLC owned about 1.81% of ONEOK worth $835,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock worth $5,703,845,000 after acquiring an additional 380,744 shares during the last quarter. Invesco Ltd. lifted its position in ONEOK by 6.3% during the third quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider's stock worth $650,827,000 after acquiring an additional 532,267 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in ONEOK by 14.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider's stock worth $396,462,000 after acquiring an additional 703,834 shares during the last quarter. Legal & General Group Plc lifted its position in ONEOK by 1.6% during the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider's stock worth $380,785,000 after acquiring an additional 80,683 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in ONEOK by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 4,862,530 shares of the utilities provider's stock worth $354,819,000 after acquiring an additional 21,732 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 3.1%

Shares of NYSE:OKE opened at $87.79 on Tuesday. The company has a fifty day moving average of $87.32 and a 200-day moving average of $79.06. The company has a market capitalization of $55.31 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 6.04 and a beta of 0.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $95.30.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter last year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.9 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, May 4th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.9%. ONEOK's dividend payout ratio is 76.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OKE. UBS Group dropped their price target on shares of ONEOK from $114.00 to $103.00 and set a "buy" rating for the company in a research report on Thursday, January 22nd. Citigroup lifted their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday. Barclays lifted their price target on shares of ONEOK from $82.00 to $90.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Freedom Capital upgraded shares of ONEOK from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 5th. Finally, Truist Financial lifted their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, ONEOK has an average rating of "Hold" and an average price target of $91.88.

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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