Todd Asset Management LLC Buys 11,568 Shares of ONEOK, Inc. $OKE

Key Points

• Todd Asset Management increased its ONEOK stake by 2.1% in the second quarter, acquiring 11,568 additional shares for a total of 551,498 shares valued at approximately $47.9 million. Institutional investors collectively own 69.13% of ONEOK.
• ONEOK reported quarterly earnings of $1.53 per share, exceeding the $1.46 consensus estimate, while revenue reached $12.05 billion versus expectations of $8.95 billion.
• ONEOK recently paid a quarterly dividend of $1.07 per share, equivalent to a 4.5% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $91.81.

Todd Asset Management LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 551,498 shares of the utilities provider's stock after purchasing an additional 11,568 shares during the period. Todd Asset Management LLC owned 0.09% of ONEOK worth $47,947,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OKE. Clearstead Trust LLC lifted its stake in shares of ONEOK by 4.7% in the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider's stock worth $238,000 after buying an additional 117 shares during the last quarter. Hoxton Planning & Management LLC grew 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 valued at $395,000 after buying an additional 120 shares during the last quarter. Welch Group LLC grew its stake in ONEOK by 0.8% in the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider's stock valued at $1,343,000 after buying an additional 122 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its holdings in ONEOK by 0.5% in 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. Finally, FAS Wealth Partners Inc. raised its holdings in ONEOK by 2.1% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider's stock worth $548,000 after acquiring an additional 123 shares during the period. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 2.5%

Shares of ONEOK stock opened at $94.99 on Friday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The firm has a market capitalization of $59.88 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The company's fifty day moving average price is $89.48 and its two-hundred day moving average price is $87.61.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts expect that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Dividend Announcement

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

Analyst Upgrades and Downgrades

OKE has been the subject of a number of recent analyst reports. Raymond James Financial restated an "outperform" rating and set a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. Scotiabank cut ONEOK from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Wells Fargo & Company decreased their target price on ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. Truist Financial raised their target price on ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a report on Monday, May 4th. Finally, TD Cowen lifted their price target on ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $91.81.

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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