ONEOK, Inc. $OKE Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,069,900 shares of the utilities provider’s stock after selling 228,016 shares during the quarter. ONEOK accounts for approximately 4.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 6th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in ONEOK were worth $96,708,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of OKE. Legal & General Group Plc boosted its position in ONEOK by 1.6% in the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock valued at $380,785,000 after buying an additional 80,683 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of 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 holdings in shares of 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 in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of ONEOK by 20.1% during the third quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider’s stock worth $3,422,000 after buying an additional 7,843 shares in the last quarter. Finally, Aberdeen Group plc lifted its stake in shares of ONEOK by 46.0% in the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after acquiring an additional 301,654 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of ONEOK stock opened at $87.89 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The stock has a market cap of $55.38 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 6.57 and a beta of 0.73. The company’s fifty day moving average is $88.59 and its 200 day moving average is $84.09.

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

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. ONEOK’s dividend payout ratio is presently 76.29%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Barclays increased their target price on ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Jefferies Financial Group boosted their price target on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $91.88.

ONEOK 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.