Jefferies Financial Group Inc. Has $614,000 Holdings in ONEOK, Inc. $OKE

Key Points

• Jefferies Financial Group cut its ONEOK position by 97.2% in the second quarter, selling 247,715 shares and retaining 7,066 shares valued at approximately $614,000. Institutional investors and hedge funds collectively own 69.13% of ONEOK.
• ONEOK agreed to acquire Brazos Midstream’s Midland Basin assets for approximately $4.425 billion, while Apollo-managed funds will provide a $9 billion nonvoting equity investment. The transactions are expected to expand ONEOK’s processing capacity, support EBITDA growth and reduce leverage, but introduce integration and dilution risks.
• ONEOK reported quarterly EPS of $1.53, exceeding the $1.46 consensus estimate, and maintains a quarterly dividend of $1.07, equivalent to a 4.5% annualized yield. Shares were near their 52-week high, while analysts’ consensus rating remained “Moderate Buy” with a $92.25 price target.

Jefferies Financial Group Inc. cut its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 97.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,066 shares of the utilities provider's stock after selling 247,715 shares during the quarter. Jefferies Financial Group Inc.'s holdings in ONEOK were worth $614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Triune Financial Partners LLC acquired a new position in ONEOK in the 4th quarter valued at approximately $1,151,000. Swiss Life Asset Management Ltd boosted its stake in shares of ONEOK by 219.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock valued at $111,897,000 after buying an additional 1,045,976 shares during the period. Castle Rock Wealth Management LLC grew its holdings in shares of ONEOK by 360.0% during the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock valued at $2,815,000 after acquiring an additional 28,343 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of ONEOK by 46.3% during 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 acquiring an additional 3,596,089 shares in the last quarter. Finally, Intact Investment Management Inc. increased its stake in shares of ONEOK by 56.3% in the fourth quarter. Intact Investment Management Inc. now owns 80,500 shares of the utilities provider's stock worth $5,917,000 after acquiring an additional 29,000 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK agreed to acquire Brazos Midstream’s natural-gas gathering and processing assets in the Midland Basin for approximately $4.425 billion. The deal is expected to more than double ONEOK’s Midland Basin processing capacity, expand its Permian footprint and provide immediate earnings and free-cash-flow-per-share accretion. ONEOK to Acquire Brazos Midstream’s Permian Midland Basin Assets
• Positive Sentiment: Funds managed by Apollo Global Management will make a $9 billion nonvoting minority equity investment. ONEOK plans to use $5 billion of the proceeds to retire debt, accelerating deleveraging to an estimated 3.25 times debt-to-EBITDA and preserving flexibility for organic investment, potential dividend increases and share repurchases. ONEOK’s $4.4 Billion Deal Comes With a $9 Billion Twist
• Positive Sentiment: Management said the acquisition supports the high end of its mid- to high-single-digit adjusted EBITDA growth target over the next five to seven years. The transaction is valued at roughly 7.5 times estimated 2027 EBITDA, including $80 million in annual synergies, and 6 times estimated 2028 EBITDA. ONEOK Bets $4.425 Billion on Brazos Assets
• Neutral Sentiment: Analysts and market commentary continue to highlight ONEOK’s strong cash-generation profile, dividend appeal and momentum. However, after a 133.5% five-year total return and a stock price near its 52-week high, opinions differ on whether the shares remain undervalued. ONEOK Stock Still Looks Like a Bargain on Cash Flow
• Negative Sentiment: The large acquisition and corporate reorganization introduce execution, integration and financing risks. Apollo’s minority investment may also reduce existing shareholders’ proportional economic interest, while the expanded asset base increases ONEOK’s exposure to Permian production volumes and operating performance.

ONEOK Stock Performance

Shares of NYSE OKE opened at $96.11 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The firm has a market cap of $60.58 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 2.64 and a beta of 0.73. The business's 50-day simple moving average is $91.09 and its 200-day simple moving average is $88.84. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $97.90.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion for 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 period last year, the business earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on OKE shares. Truist Financial increased their price objective on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ONEOK in a research report on Thursday, August 13th. TD Cowen raised their price target on ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Finally, US Capital Advisors lowered ONEOK from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, August 20th. One equities 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.25.

ONEOK 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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