Castleark Management LLC Boosts Stock Holdings in ONEOK, Inc. $OKE

Castleark Management LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 33.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,458 shares of the utilities provider’s stock after purchasing an additional 8,720 shares during the period. Castleark Management LLC’s holdings in ONEOK were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Aberdeen Group plc grew its position in shares of ONEOK by 46.0% in the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after purchasing an additional 301,654 shares in the last quarter. Swiss Life Asset Management Ltd lifted its holdings in ONEOK by 219.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Triune Financial Partners LLC purchased a new stake in ONEOK during the 4th quarter worth about $1,151,000. Royal Fund Management LLC boosted its stake in ONEOK by 40.8% in the 4th quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock worth $5,907,000 after purchasing an additional 23,281 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in 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 worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

OKE opened at $89.44 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $56.36 billion, a P/E ratio of 15.94, a PEG ratio of 5.01 and a beta of 0.73. The stock has a 50-day moving average price of $89.40 and a 200-day moving average price of $86.18. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the prior year, the business posted $1.04 earnings per share. Equities analysts predict that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OKE shares. Barclays decreased their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley boosted their price objective on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada upped their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Finally, Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus price target of $92.44.

Key ONEOK News

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.

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.