Jennison Associates LLC Has $23.47 Million Stock Position in ONEOK, Inc. $OKE

Key Points

• Jennison Associates LLC increased its ONEOK stake by 4.4% in the first quarter, bringing its holdings to 259,680 shares valued at about $23.47 million.
• Institutional interest in ONEOK remains strong, with large investors like Capital International Investors and Norges Bank making major purchases; overall, institutions and hedge funds own 69.13% of the company.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $92.06, while ONEOK recently reported quarterly EPS of $1.23 versus estimates of $1.30 and announced a $1.07 quarterly dividend yielding 4.6%.

Jennison Associates LLC boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,680 shares of the utilities provider's stock after purchasing an additional 11,054 shares during the period. Jennison Associates LLC's holdings in ONEOK were worth $23,472,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of OKE. Capital International Investors bought a new stake in shares of ONEOK during the 4th quarter worth $586,500,000. Norges Bank acquired a new position in ONEOK during the fourth quarter worth about $564,867,000. First Eagle Investment Management LLC raised its stake in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after acquiring an additional 3,596,089 shares in the last quarter. Danske Bank A S lifted its holdings in shares of ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider's stock worth $124,320,000 after acquiring an additional 1,644,945 shares during the last quarter. Finally, Man Group plc boosted its stake in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider's stock valued at $127,261,000 after purchasing an additional 1,161,352 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on OKE shares. TD Cowen lifted their price target on shares of ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a report on Thursday. Morgan Stanley boosted their target price on shares of ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings upgraded ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Finally, Raymond James Financial restated an "outperform" rating and set a $92.00 price objective on shares of ONEOK in a research report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $92.06.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.63 on Tuesday. 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 $96.07. The firm has a market cap of $59.00 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 6.99 and a beta of 0.73. The firm's fifty day moving average is $89.29 and its 200-day moving average is $85.52.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter in the previous year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is 76.29%.

About ONEOK

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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