SIR Capital Management L.P. Sells 182,385 Shares of ONEOK, Inc. $OKE

Key Points

• SIR Capital Management reduced its ONEOK stake by 27.8% in the fourth quarter, selling 182,385 shares and leaving it with 472,588 shares valued at about $34.7 million.
• ONEOK reported mixed quarterly results: earnings of $1.23 per share missed estimates, but revenue of $9.62 billion came in above expectations.
• The company recently paid a quarterly dividend of $1.07 per share, annualized to $4.28 and a yield of about 4.7%, while analysts currently have a consensus rating of Hold on the stock.

SIR Capital Management L.P. cut its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,588 shares of the utilities provider's stock after selling 182,385 shares during the quarter. ONEOK makes up 3.8% of SIR Capital Management L.P.'s portfolio, making the stock its 4th biggest holding. SIR Capital Management L.P. owned 0.08% of ONEOK worth $34,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc increased its stake in shares of ONEOK by 1.6% in the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider's stock worth $380,785,000 after acquiring an additional 80,683 shares during the last quarter. Russell Investments Group Ltd. increased its position in ONEOK by 1.4% during the third quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider's stock worth $89,910,000 after buying an additional 16,871 shares during the last quarter. WBI Investments LLC increased its position in ONEOK by 221.5% during the third quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider's stock worth $2,610,000 after buying an additional 24,643 shares during the last quarter. Aberdeen Group plc increased its position in ONEOK by 46.0% during the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider's stock worth $70,388,000 after buying an additional 301,654 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in ONEOK by 23.6% during the third quarter. Advisors Capital Management LLC now owns 759,241 shares of the utilities provider's stock worth $55,402,000 after buying an additional 145,060 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 1.3%

OKE stock opened at $90.40 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company has a 50-day moving average of $88.31 and a two-hundred day moving average of $82.58. The stock has a market capitalization of $56.95 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 6.67 and a beta of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (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 for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, May 4th. ONEOK's dividend payout ratio is 76.29%.

Wall Street Analyst Weigh In

Several research firms have commented on OKE. Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Wells Fargo & Company lowered their target price on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Wolfe Research downgraded shares of ONEOK from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, February 25th. Finally, Morgan Stanley increased their target price on shares of ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $91.88.

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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