Ascent Group LLC Acquires 5,886 Shares of ONEOK, Inc. $OKE

Ascent Group LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 71.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,067 shares of the utilities provider’s stock after purchasing an additional 5,886 shares during the period. Ascent Group LLC’s holdings in ONEOK were worth $1,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. City Holding Co. purchased a new position in ONEOK during the 3rd quarter valued at $28,000. Winnow Wealth LLC purchased a new position in ONEOK during the 3rd quarter valued at $28,000. Global Wealth Strategies & Associates purchased a new position in ONEOK during the 3rd quarter valued at $29,000. Financial Consulate Inc. purchased a new position in ONEOK during the 3rd quarter valued at $29,000. Finally, AXS Investments LLC purchased a new position in ONEOK during the 3rd quarter valued at $35,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 2.3%

OKE stock opened at $90.52 on Wednesday. The stock has a market capitalization of $57.03 billion, a P/E ratio of 16.70, a P/E/G ratio of 6.70 and a beta of 0.84. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $95.30. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The business has a fifty day moving average price of $85.70 and a 200-day moving average price of $76.69.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period last year, the business posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. ONEOK’s dividend payout ratio (DPR) is currently 78.97%.

Wall Street Analyst Weigh In

Several analysts have weighed in on OKE shares. Truist Financial started coverage on ONEOK in a research report on Tuesday, March 24th. They set a “hold” rating and a $91.00 price objective on the stock. Mizuho set a $89.00 price objective on ONEOK in a research report on Monday, February 23rd. Royal Bank Of Canada lifted their price objective on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research report on Thursday, March 19th. Jefferies Financial Group raised ONEOK from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $98.00 in a research report on Friday, March 20th. Finally, Scotiabank reissued an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. Nine analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and an average target price of $89.50.

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.