Cresset Asset Management LLC Increases Position in ONEOK, Inc. $OKE

Cresset Asset Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 70.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,109 shares of the utilities provider’s stock after acquiring an additional 36,948 shares during the quarter. Cresset Asset Management LLC’s holdings in ONEOK were worth $6,502,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of ONEOK by 0.9% in the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock valued at $5,634,932,000 after purchasing an additional 711,619 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after buying an additional 613,674 shares during the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after buying an additional 355,751 shares during the last quarter. Invesco Ltd. grew its holdings in ONEOK by 0.6% in the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after buying an additional 46,892 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of ONEOK by 24.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock valued at $566,920,000 after acquiring an additional 1,513,042 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 1.1%

Shares of NYSE OKE opened at $85.65 on Friday. The stock has a fifty day moving average price of $79.15 and a 200 day moving average price of $74.28. 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 company has a market cap of $53.94 billion, a P/E ratio of 15.80, a P/E/G ratio of 4.99 and a beta of 0.93.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, February 2nd. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. ONEOK’s dividend payout ratio is presently 78.97%.

Analysts Set New Price Targets

Several research firms recently issued reports on OKE. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Wells Fargo & Company decreased their price target on shares of ONEOK from $82.00 to $79.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Thursday, November 6th. Morgan Stanley restated an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a report on Wednesday, January 28th. Finally, Barclays set a $82.00 target price on ONEOK in a report on Thursday. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.47.

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.