Allspring Global Investments Holdings LLC Raises Position in ONEOK, Inc. $OKE

Allspring Global Investments Holdings LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,479 shares of the utilities provider’s stock after acquiring an additional 18,631 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of ONEOK worth $31,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of OKE. Empowered Funds LLC raised its position in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares in the last quarter. Focused Wealth Management Inc raised its holdings in ONEOK by 4.3% in the third quarter. Focused Wealth Management Inc now owns 3,441 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 142 shares in the last quarter. JFS Wealth Advisors LLC lifted its stake in ONEOK by 8.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,864 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 144 shares during the last quarter. Silver Lake Advisory LLC lifted its stake in ONEOK by 1.4% in the third quarter. Silver Lake Advisory LLC now owns 10,788 shares of the utilities provider’s stock worth $787,000 after acquiring an additional 147 shares during the last quarter. Finally, Alternative Investment Advisors LLC. grew its holdings in ONEOK by 1.2% during the 2nd quarter. Alternative Investment Advisors LLC. now owns 12,479 shares of the utilities provider’s stock worth $1,019,000 after acquiring an additional 148 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 1.1%

OKE stock opened at $88.33 on Friday. The stock has a market cap of $55.63 billion, a P/E ratio of 16.30, a PEG ratio of 6.63 and a beta of 0.84. The company has a current ratio of 0.71, a quick ratio of 0.56 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 $97.41. The company’s 50 day moving average is $85.02 and its two-hundred day moving average is $76.29.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same quarter in the prior year, the business posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Research analysts expect 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 issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK’s dividend payout ratio is 78.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OKE. Jefferies Financial Group raised shares of ONEOK from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $98.00 in a research report on Friday, March 20th. Barclays boosted their target price on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. lowered ONEOK from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Royal Bank Of Canada raised 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. Finally, Truist Financial started coverage on ONEOK in a report on Tuesday, March 24th. They set a “hold” rating and a $91.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.94.

About ONEOK

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.