Energy Income Partners LLC Buys 617,015 Shares of ONEOK, Inc. $OKE

Energy Income Partners LLC lifted its stake in ONEOK, Inc. (NYSE:OKE) by 57.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,688,741 shares of the utilities provider’s stock after purchasing an additional 617,015 shares during the period. ONEOK accounts for approximately 2.5% of Energy Income Partners LLC’s holdings, making the stock its 9th largest holding. Energy Income Partners LLC owned about 0.27% of ONEOK worth $152,645,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OKE. Capital International Investors bought a new position in ONEOK during the fourth quarter worth about $586,500,000. Norges Bank acquired a new position in shares of ONEOK during the 4th quarter worth about $564,867,000. First Eagle Investment Management LLC increased its stake in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after acquiring an additional 3,596,089 shares during the last quarter. Danske Bank A S raised its position in shares of ONEOK by 3,538.4% in the 4th quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after acquiring an additional 1,644,945 shares during the period. Finally, Man Group plc raised its position in shares of ONEOK by 292.1% in the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after acquiring an additional 1,161,352 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK News Roundup

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.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on OKE shares. Truist Financial lifted their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Jefferies Financial Group increased 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. Eight investment 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, ONEOK presently has a consensus rating of “Hold” and a consensus target price of $92.44.

ONEOK Stock Down 4.0%

OKE stock opened at $89.44 on Tuesday. The business has a 50-day moving average of $89.40 and a 200-day moving average of $86.18. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The stock has a market capitalization of $56.36 billion, a P/E ratio of 15.94, a P/E/G 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 (NYSE:OKE) last released its earnings results 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 firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $1.07 dividend. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is 76.29%.

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.