ONEOK, Inc. $OKE Shares Purchased by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd boosted its ONEOK stake by 42.9% in the first quarter, ending with 37,860 shares valued at about $3.52 million.
• ONEOK reported Q1 earnings of $1.23 per share, missing analyst expectations, even though revenue came in at $9.62 billion, above estimates.
• The company declared a quarterly dividend of $1.07 per share, implying a 4.6% yield, while analysts currently have an overall Hold rating with an average price target of $92.06.

Mediolanum International Funds Ltd increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 42.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,860 shares of the utilities provider's stock after acquiring an additional 11,360 shares during the period. Mediolanum International Funds Ltd's holdings in ONEOK were worth $3,519,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT grew its holdings in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after buying an additional 143 shares in the last quarter. Elyxium Wealth LLC bought a new stake in ONEOK during the 4th quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK during the 4th quarter worth $29,000. SRH Advisors LLC grew its stake in shares of ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider's stock worth $32,000 after purchasing an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC bought a new position in shares of ONEOK in the first quarter worth $33,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of OKE opened at $93.63 on Tuesday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. 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 capitalization 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 company's fifty day moving average price is $89.29 and its 200 day moving average price is $85.52.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts expect 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. Shareholders of record on Monday, August 3rd will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is presently 76.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OKE shares. TD Cowen upped their target price on ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday. Morgan Stanley boosted their price objective on ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Scotiabank cut ONEOK from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Finally, Wells Fargo & Company lowered their target price on ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, ONEOK presently has an average rating of "Hold" and an average price target of $92.06.

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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