Clare Market Investments LLC Acquires New Holdings in ONEOK, Inc. $OKE

Clare Market Investments LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,500 shares of the utilities provider’s stock, valued at approximately $949,000.

A number of other hedge funds also recently bought and sold shares of OKE. Brighton Jones LLC lifted its stake 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 worth $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Empowered Funds LLC grew its stake in ONEOK by 0.8% in the first 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 ONEOK in the first quarter worth about $216,000. Federated Hermes Inc. lifted its position in shares of ONEOK by 14.0% during the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after buying an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after buying an additional 4,902 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. Wells Fargo & Company cut their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. Citigroup upped their price target on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, TD Cowen raised their price objective on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $91.88.

ONEOK Trading Up 2.7%

NYSE:OKE opened at $89.80 on Tuesday. The company has a market capitalization of $56.59 billion, a P/E ratio of 16.00, a PEG ratio of 6.57 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The firm has a fifty day simple moving average of $88.59 and a 200-day simple moving average of $84.09.

ONEOK (NYSE:OKE) last posted its quarterly 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 net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the firm posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Dividend Announcement

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