Jennison Associates LLC Sells 13,705 Shares of ONEOK, Inc. $OKE

Key Points

• Jennison Associates LLC trimmed its stake in ONEOK by 5.2%, selling 13,705 shares and ending the quarter with 248,626 shares valued at about $18.27 million.
• ONEOK reported mixed Q1 results (EPS $1.23 missed consensus while revenue and adjusted EBITDA rose), but management raised its 2026 outlook (adjusted EBITDA midpoint $8.25B; net income $3.5B) and declared a $1.07 quarterly dividend (4.7% yield).

Jennison Associates LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,626 shares of the utilities provider's stock after selling 13,705 shares during the period. Jennison Associates LLC's holdings in ONEOK were worth $18,274,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. City Holding Co. bought a new position in shares of ONEOK in the 3rd quarter worth $28,000. Winnow Wealth LLC bought a new position in shares of ONEOK in the 3rd quarter worth $28,000. Financial Consulate Inc. bought a new position in shares of ONEOK in the 3rd quarter worth $29,000. SRH Advisors LLC raised its position in shares of ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider's stock worth $32,000 after acquiring an additional 241 shares in the last quarter. Finally, AXS Investments LLC bought a new position in shares of ONEOK in the 3rd quarter worth $35,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 2.0%

Shares of OKE stock opened at $90.58 on Friday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $95.30. The stock's fifty day moving average price is $87.11 and its 200 day moving average price is $78.35. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The company has a market cap of $57.07 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 6.84 and a beta of 0.78.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The business had revenue of $9.62 billion for the quarter, compared to analysts' expectations 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 firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.53 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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 paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, May 4th. ONEOK's payout ratio is presently 76.29%.

ONEOK News Roundup

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Company raised guidance and 2026 outlook — ONEOK announced a 2026 adjusted EBITDA midpoint of $8.25B and raised its net income outlook to $3.5B, signaling stronger forward cash flow and underpinning the stock’s recent strength. ONEOK projects 2026 adjusted EBITDA midpoint of $8.25B as it raises net income outlook to $3.5B
• Positive Sentiment: Management sees momentum continuing — Coverage notes (and company commentary) highlight robust earnings growth, a 4.7% yield and management’s view that Q1 momentum will continue into the year, supporting dividend income investors. This 4.7%-Yielding Energy Stock Reported Robust Earnings Growth and Sees More Growth Coming Down the Pipeline
• Positive Sentiment: Analysts lifting views — Some analysts have issued upgrades and upward revisions to forecasts after Q1 and the guidance raise, boosting near-term sentiment and supporting share price resilience. New Forecasts: Here's What Analysts Think The Future Holds For ONEOK, Inc. NYSE: OKE
• Positive Sentiment: Wells Fargo remains constructive — Wells Fargo trimmed its price target slightly (to $98) but kept an overweight rating, implying continued analyst confidence in longer-term upside. Wells Fargo price target note via Benzinga
• Positive Sentiment: Small upward EPS tweak from an independent analyst — US Capital Advisors nudged FY2027 EPS estimates slightly higher, a modest reaffirmation of earnings power. MarketBeat EPS estimate note
• Neutral Sentiment: Q1 results were mixed — ONEOK reported Q1 EPS below consensus ($1.23 vs. ~$1.30) but adjusted EBITDA rose ~12% year‑over‑year and management increased guidance, leaving investors weighing earnings miss vs. stronger cash-flow metrics. ONEOK (OKE) Reports First-Quarter EPS of $1.23
• Neutral Sentiment: Analyst model updates are mixed — Brokers and independent services have revised forecasts after Q1, producing both buy-side and hold-side adjustments rather than a consensus directional shift. These Analysts Revise Their Forecasts On ONEOK Following Q1 Results
• Positive Sentiment: Included on lists of attractive infrastructure stocks — Inclusion on several “infrastructure / high upside” lists can attract longer‑term institutional and dividend investors. 8 Best Infrastructure Stocks to Buy with Highest Upside Potential
• Negative Sentiment: Scotiabank cut the stock — Scotiabank downgraded ONEOK, saying it’s a less compelling value versus other liquids names, which increases downside pressure from benchmark-focused investors. ONEOK cut at Scotiabank as less compelling value proposition vs other liquids names
• Negative Sentiment: TD Cowen still cautious — TD Cowen lifted its target to $85 but left a “hold” rating, implying limited near‑term upside and signaling some investor skepticism; the target sits below recent trade levels. TD Cowen target change via Benzinga/The Fly

Analyst Ratings Changes

Several research analysts have recently commented on the company. Truist Financial started coverage on ONEOK in a research report on Tuesday, March 24th. They issued a "hold" rating and a $91.00 price target for the company. Morgan Stanley boosted their target price on ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Royal Bank Of Canada boosted their target price on ONEOK from $79.00 to $84.00 and gave the stock a "sector perform" rating in a research note on Thursday, March 19th. Wall Street Zen downgraded ONEOK from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, UBS Group dropped their target price on ONEOK from $114.00 to $103.00 and set a "buy" rating on the stock in a research note on Thursday, January 22nd. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $91.06.

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.

Want to see what other hedge funds are holding OKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ONEOK, Inc. (NYSE:OKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.