ONEOK, Inc. $OKE Stock Position Raised by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its ONEOK stake by 21.8% in the second quarter, adding 13,103 shares to own 73,242 shares valued at approximately $6.37 million. Institutional investors collectively hold 69.13% of OKE shares.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $91.94, while individual targets range from $88 to $105.
• ONEOK beat quarterly earnings expectations, reporting $1.53 EPS versus the $1.46 consensus and $12.05 billion in revenue. The company also pays a quarterly dividend of $1.07 per share, representing a 4.5% annualized yield.

Empowered Funds LLC increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 21.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 73,242 shares of the utilities provider's stock after purchasing an additional 13,103 shares during the period. Empowered Funds LLC's holdings in ONEOK were worth $6,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Meridian Wealth Management LLC boosted its position in shares of ONEOK by 1.8% in the second quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider's stock worth $574,000 after buying an additional 115 shares during the period. Clearstead Trust LLC lifted its stake in ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider's stock worth $238,000 after acquiring an additional 117 shares in the last quarter. Hoxton Planning & Management LLC lifted its stake in ONEOK by 2.3% in the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider's stock worth $395,000 after acquiring an additional 120 shares in the last quarter. Welch Group LLC boosted its position in ONEOK by 0.8% during the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider's stock worth $1,343,000 after acquiring an additional 122 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its position in ONEOK by 0.5% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider's stock worth $2,374,000 after acquiring an additional 122 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on OKE. Barclays reduced their price target on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Citigroup boosted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Morgan Stanley upped their price objective on shares of ONEOK from $103.00 to $105.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 18th. Royal Bank Of Canada increased their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Finally, TD Cowen lifted their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.94.

ONEOK Price Performance

Shares of OKE opened at $94.88 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 firm has a market cap of $59.81 billion, a PE ratio of 16.36, a PEG ratio of 2.64 and a beta of 0.73. The firm's 50 day moving average price is $90.89 and its 200 day moving average price is $88.75. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $97.90.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the previous year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) 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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