Envestnet Portfolio Solutions Inc. Invests $2.73 Million in ONEOK, Inc. $OKE

Envestnet Portfolio Solutions Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 37,187 shares of the utilities provider’s stock, valued at approximately $2,733,000.

A number of other hedge funds have also recently made changes to their positions in OKE. National Pension Service raised its stake in ONEOK by 2.9% in the third quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after buying an additional 24,003 shares in the last quarter. Legal & General Group Plc boosted its position in ONEOK by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock valued at $380,785,000 after acquiring an additional 80,683 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of ONEOK by 29.6% during the 3rd quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider’s stock worth $39,401,000 after acquiring an additional 121,891 shares during the period. Capital Management Corp VA grew its holdings in shares of ONEOK by 49.2% during the 3rd quarter. Capital Management Corp VA now owns 228,882 shares of the utilities provider’s stock worth $16,702,000 after acquiring an additional 75,450 shares during the period. Finally, WBI Investments LLC raised its position in shares of ONEOK by 221.5% in the 3rd quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock worth $2,610,000 after acquiring an additional 24,643 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. Mizuho set a $89.00 price target on shares of ONEOK in a research note on Monday, February 23rd. Jefferies Financial Group increased their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Wall Street Zen lowered shares of ONEOK from a “hold” rating to a “sell” rating in a report on Monday, May 18th. JPMorgan Chase & Co. upped their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, ONEOK presently has an average rating of “Hold” and an average price target of $91.88.

ONEOK Trading Up 1.5%

Shares of ONEOK stock opened at $93.98 on Friday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The company’s fifty day simple moving average is $88.54 and its 200-day simple moving average is $80.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The stock has a market capitalization of $59.21 billion, a PE ratio of 16.75, a P/E/G ratio of 6.73 and a beta of 0.78.

ONEOK (NYSE:OKE) last posted 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). The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter last year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed 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 4.6%. 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.