Paradigm Capital Management LLC NV Purchases Shares of 12,598 ONEOK, Inc. $OKE

Key Points

• Paradigm Capital Management LLC NV acquired 12,598 ONEOK shares worth approximately $1.095 million, making OKE its 27th-largest holding and 0.9% of its portfolio. Institutional investors collectively own 69.13% of the company.
• Analysts maintain a generally positive outlook, with ONEOK receiving a “Moderate Buy” consensus rating and an average price target of $91.94. Ratings include one Strong Buy, eight Buys and ten Holds.
• ONEOK reported quarterly EPS of $1.53, exceeding the $1.46 consensus estimate, while revenue reached $12.05 billion. The company also paid a quarterly dividend of $1.07 per share, equivalent to a 4.6% annualized yield.

Paradigm Capital Management LLC NV acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,598 shares of the utilities provider's stock, valued at approximately $1,095,000. ONEOK makes up 0.9% of Paradigm Capital Management LLC NV's portfolio, making the stock its 27th largest position.

A number of other hedge funds have also recently made changes to their positions in OKE. Meridian Wealth Management LLC lifted its holdings in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider's stock worth $574,000 after purchasing an additional 115 shares in the last quarter. Clearstead Trust LLC grew its holdings in ONEOK by 4.7% during the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider's stock valued at $238,000 after buying an additional 117 shares in the last quarter. Hoxton Planning & Management LLC raised its position in shares of ONEOK by 2.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider's stock valued at $395,000 after buying an additional 120 shares during the last quarter. Welch Group LLC lifted its holdings in shares of ONEOK by 0.8% in the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider's stock worth $1,343,000 after buying an additional 122 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in shares of ONEOK by 0.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider's stock worth $2,374,000 after buying an additional 122 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on OKE shares. Freedom Capital raised shares of ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Raymond James Financial reiterated an "outperform" rating and issued a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Truist Financial increased their price target on ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a research note on Monday, May 4th. Barclays cut their price target on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Finally, Scotiabank cut ONEOK from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $91.94.

ONEOK Trading Down 0.3%

OKE opened at $93.06 on Tuesday. The stock has a 50-day moving average of $90.20 and a 200 day moving average of $88.40. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90. The firm has a market cap of $58.66 billion, a P/E ratio of 16.05, a P/E/G ratio of 2.60 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to the consensus estimate 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 business posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts forecast that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK's 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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