ONEOK, Inc. $OKE Shares Acquired by Castle Rock Wealth Management LLC

Key Points

• Castle Rock Wealth Management increased its ONEOK stake by 360% in the fourth quarter, buying 28,343 more shares and bringing its total to 36,216 shares valued at about $2.8 million.
• Analysts are mixed on the stock: ONEOK currently has a Hold consensus rating, with a consensus price target of $91.88 after several firms recently adjusted their outlooks.
• ONEOK reported Q1 earnings of $1.23 per share, missing estimates, while revenue came in above expectations at $9.62 billion; the company also declared a $1.07 quarterly dividend, implying a 4.8% yield.

Castle Rock Wealth Management LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 360.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,216 shares of the utilities provider's stock after purchasing an additional 28,343 shares during the period. Castle Rock Wealth Management LLC's holdings in ONEOK were worth $2,815,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock valued at $5,703,845,000 after purchasing an additional 380,744 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in 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 purchasing an additional 3,596,089 shares in the last quarter. Invesco Ltd. boosted its stake in ONEOK by 6.3% during the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider's stock valued at $650,827,000 after acquiring an additional 532,267 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in ONEOK by 14.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider's stock valued at $396,462,000 after acquiring an additional 703,834 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in ONEOK by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider's stock valued at $380,785,000 after acquiring an additional 80,683 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on OKE. Citigroup increased their price objective on shares of ONEOK from $95.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. TD Cowen increased their price objective on shares of ONEOK from $80.00 to $85.00 and gave the company a "hold" rating in a research note on Thursday, April 30th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research note on Thursday, April 30th. Wolfe Research downgraded shares of ONEOK from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 25th. Finally, Truist Financial raised their price target on shares of ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $91.88.

ONEOK Trading Up 0.5%

Shares of NYSE:OKE opened at $88.83 on Thursday. The company has a market cap of $55.96 billion, a PE ratio of 15.83, a P/E/G ratio of 6.33 and a beta of 0.78. The company's 50-day moving average price is $87.49 and its 200 day moving average price is $79.33. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $95.30. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate 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 prior year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.85 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be given a $1.07 dividend. The ex-dividend date is Monday, May 4th. This represents a $4.28 annualized dividend and a yield of 4.8%. ONEOK's dividend payout ratio (DPR) is currently 76.29%.

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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