ONEOK, Inc. $OKE Stake Lifted by Energy Income Partners LLC

Key Points

• Energy Income Partners LLC increased its holdings in ONEOK, Inc. by 12.6% during the first quarter, owning approximately 2.25 million shares valued at about $222.77 million, making it their fourth biggest holding.
• ONEOK reported impressive quarterly results, with an EPS of $1.34, beating estimates, and revenue of $8.21 billion, exceeding consensus estimates significantly.
• The company declared a quarterly dividend of $1.03 per share, with an annualized yield of 5.4% and a payout ratio of 80.31%.

Energy Income Partners LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,245,182 shares of the utilities provider's stock after acquiring an additional 251,942 shares during the period. ONEOK accounts for approximately 4.3% of Energy Income Partners LLC's portfolio, making the stock its 4th biggest position. Energy Income Partners LLC owned about 0.36% of ONEOK worth $222,767,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Greenline Partners LLC purchased a new stake in ONEOK in the fourth quarter valued at $32,000. First Pacific Financial acquired a new stake in ONEOK in the 1st quarter valued at approximately $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK in the fourth quarter valued at approximately $37,000. Financial Network Wealth Advisors LLC lifted its stake in ONEOK by 2,466.7% during the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares in the last quarter. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK in the first quarter valued at $39,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 1.0%

Shares of NYSE:OKE traded down $0.76 on Wednesday, hitting $73.87. 3,394,163 shares of the company's stock were exchanged, compared to its average volume of 3,451,486. The firm's 50-day moving average is $78.52 and its 200 day moving average is $84.63. The company has a market capitalization of $46.52 billion, a PE ratio of 14.40, a P/E/G ratio of 1.82 and a beta of 1.04. ONEOK, Inc. has a 1-year low of $72.18 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same period in the previous year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Friday, August 1st. ONEOK's payout ratio is currently 80.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on OKE shares. Citigroup dropped their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. TD Cowen assumed coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Finally, Scotiabank set a $92.00 target price on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $100.60.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.