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

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

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

ONEOK Price Performance

OKE opened at $93.98 on Friday. The business’s 50-day moving average is $88.54 and its two-hundred day moving average is $80.48. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. 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 firm has a market capitalization of $59.21 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 6.73 and a beta of 0.78.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS 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 previous year, the company earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of recent analyst reports. TD Cowen boosted their price objective on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Truist Financial lifted their target price on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Finally, Barclays raised their price target on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $91.88.

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.