NFJ Investment Group LLC Trims Position in ONEOK, Inc. $OKE

NFJ Investment Group LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 18.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,390 shares of the utilities provider’s stock after selling 17,200 shares during the quarter. NFJ Investment Group LLC’s holdings in ONEOK were worth $5,615,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OKE. Zions Bancorporation National Association UT increased its holdings in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in shares of ONEOK during the 4th quarter worth $29,000. Cornerstone Financial Management LLC acquired a new stake in shares of ONEOK during the 4th quarter worth $29,000. SRH Advisors LLC increased its holdings in shares of ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after buying an additional 241 shares during the last quarter. Finally, Accredited Wealth Management LLC increased its holdings in shares of ONEOK by 342.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.3%

Shares of NYSE OKE opened at $90.40 on Friday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a market cap of $56.95 billion, a P/E ratio of 16.11, a P/E/G ratio of 6.77 and a beta of 0.74. 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 fifty day moving average price of $88.31 and a 200 day moving average price of $82.58.

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

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.7%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKE. Mizuho set a $89.00 price objective on ONEOK in a report on Monday, February 23rd. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a report on Thursday, April 30th. Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, Truist Financial upped their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.