Brookstone Capital Management Sells 6,852 Shares of ONEOK, Inc. $OKE

Brookstone Capital Management decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.4% during the first quarter, Holdings Channel reports. The institutional investor owned 53,380 shares of the utilities provider’s stock after selling 6,852 shares during the period. Brookstone Capital Management’s holdings in ONEOK were worth $4,825,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Capital International Investors purchased a new stake in ONEOK in the 4th quarter worth $586,500,000. Norges Bank purchased a new position in shares of ONEOK in the fourth quarter valued at about $564,867,000. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after acquiring an additional 3,596,089 shares during the period. Danske Bank A S boosted its stake in shares of ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after acquiring an additional 1,644,945 shares during the period. Finally, Man Group plc grew its position in shares of ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after purchasing an additional 1,161,352 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 2.0%

NYSE OKE opened at $88.02 on Wednesday. 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 price of $88.09 and a 200 day moving average price of $83.34. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The firm has a market cap of $55.46 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 6.45 and a beta of 0.74.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. ONEOK’s payout ratio is 76.29%.

Analyst Ratings Changes

OKE has been the topic of a number of research analyst reports. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Truist Financial increased their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Citigroup upped their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Morgan Stanley raised their price objective on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Finally, Raymond James Financial restated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $91.88.

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.