Cascade Investment Group Inc. Grows Stock Position in ONEOK, Inc. $OKE

Cascade Investment Group Inc. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 107.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,979 shares of the utilities provider’s stock after buying an additional 6,737 shares during the period. Cascade Investment Group Inc.’s holdings in ONEOK were worth $954,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Winnow Wealth LLC purchased a new position in shares of ONEOK during the 3rd quarter valued at about $28,000. City Holding Co. purchased a new position in shares of ONEOK during the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new position in shares of ONEOK during the 3rd quarter valued at about $29,000. Financial Consulate Inc. purchased a new position in shares of ONEOK during the 3rd quarter valued at about $29,000. Finally, SRH Advisors LLC raised its stake in shares of ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $86.17 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $95.30. The business has a 50-day moving average price of $86.01 and a 200 day moving average price of $76.82. The firm has a market cap of $54.29 billion, a PE ratio of 15.90, a P/E/G ratio of 6.57 and a beta of 0.84.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the previous year, the business earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This is an increase 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 yield of 5.0%. ONEOK’s dividend payout ratio (DPR) is presently 78.97%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Royal Bank Of Canada lifted their price target on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, March 19th. Morgan Stanley lifted their price target on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. lowered ONEOK from an “overweight” rating to a “neutral” rating and cut their price target for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. Finally, Mizuho set a $89.00 price target on ONEOK in a research note on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.63.

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.