ONEOK, Inc. $OKE Stock Holdings Raised by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 16.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,297,916 shares of the utilities provider’s stock after acquiring an additional 181,000 shares during the period. ONEOK makes up 5.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 5th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in ONEOK were worth $95,397,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. City Holding Co. purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $28,000. Winnow Wealth LLC purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $28,000. Financial Consulate Inc. purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $29,000. SRH Advisors LLC raised 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 valued at $32,000 after buying an additional 241 shares during the period. Finally, AXS Investments LLC purchased a new stake in shares of ONEOK during the 3rd quarter valued at about $35,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $83.55 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $95.30. The stock’s 50 day moving average is $86.68 and its two-hundred day moving average is $77.35. The company has a market capitalization of $52.64 billion, a PE ratio of 15.42, a P/E/G ratio of 6.43 and a beta of 0.84.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the previous year, the business earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.1%. ONEOK’s dividend payout ratio (DPR) is presently 78.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Wells Fargo & Company upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $81.00 to $100.00 in a report on Wednesday, March 25th. Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Finally, Mizuho set a $89.00 price objective on ONEOK in a report on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and a consensus target price of $89.69.

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.