Bahl & Gaynor Inc. Has $59.67 Million Stock Holdings in ONEOK, Inc. $OKE

Bahl & Gaynor Inc. lessened its position in ONEOK, Inc. (NYSE:OKE) by 20.1% in the third quarter, HoldingsChannel reports. The fund owned 817,707 shares of the utilities provider’s stock after selling 205,935 shares during the quarter. Bahl & Gaynor Inc.’s holdings in ONEOK were worth $59,668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares during the period. Focused Wealth Management Inc raised its holdings in ONEOK by 4.3% during the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock worth $251,000 after buying an additional 142 shares during the last quarter. Fidelis Capital Partners LLC lifted its stake in shares of ONEOK by 4.2% in the second quarter. Fidelis Capital Partners LLC now owns 3,589 shares of the utilities provider’s stock valued at $270,000 after buying an additional 144 shares in the last quarter. Silver Lake Advisory LLC grew its holdings in shares of ONEOK by 1.4% during the third quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock valued at $787,000 after buying an additional 147 shares during the last quarter. Finally, Alternative Investment Advisors LLC. grew its holdings in shares of ONEOK by 1.2% during the second quarter. Alternative Investment Advisors LLC. now owns 12,479 shares of the utilities provider’s stock valued at $1,019,000 after buying an additional 148 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $82.67 on Monday. The business’s fifty day simple moving average is $78.17 and its 200 day simple moving average is $73.97. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64. The firm has a market capitalization of $52.06 billion, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 4.88 and a beta of 0.93.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period last year, the firm posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s payout ratio is presently 78.97%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKE. Morgan Stanley restated an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a report on Wednesday, January 28th. Barclays lowered their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and cut their target price for the company from $87.00 to $83.00 in a research report on Tuesday, January 27th. Jefferies Financial Group started coverage on ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $72.00 price objective on shares of ONEOK in a research note on Monday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $86.07.

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.