Castleark Management LLC Buys 8,720 Shares of ONEOK, Inc. $OKE

Castleark Management LLC boosted its stake in ONEOK, Inc. (NYSE:OKE) by 33.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,458 shares of the utilities provider’s stock after purchasing an additional 8,720 shares during the period. Castleark Management LLC’s holdings in ONEOK were worth $3,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Brighton Jones LLC raised its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Empowered Funds LLC grew its stake in shares of ONEOK by 0.8% in 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 last quarter. Acadian Asset Management LLC bought a new stake in shares of ONEOK in the first quarter worth about $216,000. Federated Hermes Inc. increased its holdings in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK News Summary

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

ONEOK Trading Down 4.0%

NYSE:OKE opened at $89.44 on Tuesday. The firm has a market capitalization of $56.36 billion, a P/E ratio of 15.94, a PEG ratio of 5.01 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The company’s 50-day simple moving average is $89.40 and its 200 day simple moving average is $86.18.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company earned $1.04 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.68 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is 76.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OKE shares. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Morgan Stanley boosted their target price on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Barclays dropped their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Finally, Truist Financial lifted their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. 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 stock presently has a consensus rating of “Hold” and an average target price of $92.44.

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.