Clearbridge Investments LLC Purchases 347,516 Shares of ONEOK, Inc. $OKE

Clearbridge Investments LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,435,030 shares of the utilities provider’s stock after acquiring an additional 347,516 shares during the quarter. Clearbridge Investments LLC’s holdings in ONEOK were worth $325,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in OKE. Brighton Jones LLC increased its position in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Empowered Funds LLC increased its position in shares of ONEOK by 0.8% during 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 during the last quarter. Acadian Asset Management LLC bought a new position in shares of ONEOK during the 1st quarter valued at approximately $216,000. Federated Hermes Inc. increased its position in shares of ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKE shares. Raymond James Financial reissued an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Barclays boosted their target price on ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Citigroup boosted their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $91.88.

ONEOK Stock Performance

Shares of ONEOK stock opened at $88.26 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a market capitalization of $55.61 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 6.60 and a beta of 0.74. The stock’s fifty day moving average is $88.56 and its two-hundred day moving average is $81.89. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the business posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts expect that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is 76.29%.

ONEOK 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.