ONEOK, Inc. $OKE Shares Purchased by First Eagle Investment Management LLC

Key Points

• First Eagle Investment Management increased its ONEOK position by 1.3% in the second quarter, owning 11.83 million shares valued at approximately $1.03 billion. Institutional investors collectively hold 69.13% of the company.
• Analysts raised several price targets, but sentiment remains cautious: ONEOK has a consensus “Hold” rating and an average target price of $95.50.
• ONEOK reported quarterly EPS of $1.53, beating estimates of $1.46, and maintains a quarterly dividend of $1.07, equivalent to a 4.5% annualized yield.

First Eagle Investment Management LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,834,827 shares of the utilities provider's stock after acquiring an additional 155,652 shares during the quarter. First Eagle Investment Management LLC owned 1.88% of ONEOK worth $1,028,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. California State Teachers Retirement System boosted its stake in shares of ONEOK by 6,935.8% during the second quarter. California State Teachers Retirement System now owns 119,843,399 shares of the utilities provider's stock valued at $10,419,185,000 after acquiring an additional 118,140,062 shares during the last quarter. Capital International Investors acquired a new stake in shares of ONEOK in the fourth quarter worth approximately $586,500,000. Norges Bank purchased a new stake in shares of ONEOK during the 4th quarter valued at $564,867,000. BlackRock Inc. increased its stake in ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock worth $5,610,887,000 after acquiring an additional 5,148,768 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in ONEOK during the second quarter worth about $389,985,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of ONEOK from $95.00 to $105.00 and gave the company a "hold" rating in a report on Wednesday. Truist Financial lifted their target price on ONEOK from $93.00 to $104.00 and gave the stock a "hold" rating in a research report on Wednesday. TD Cowen increased their price target on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Royal Bank Of Canada raised their price objective on ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 21st. Finally, US Capital Advisors downgraded ONEOK from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, August 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $95.50.

ONEOK Trading Down 0.2%

NYSE OKE opened at $95.25 on Monday. 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 company has a 50-day simple moving average of $91.67 and a 200-day simple moving average of $89.13. ONEOK, Inc. has a one year low of $64.02 and a one year high of $99.85. The firm has a market capitalization of $60.04 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to analysts' expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period in the prior year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Announces Dividend

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

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.

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