Hodges Capital Management Inc. Has $9.65 Million Position in ONEOK, Inc. $OKE

Hodges Capital Management Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 111,009 shares of the utilities provider’s stock after selling 9,337 shares during the quarter. Hodges Capital Management Inc.’s holdings in ONEOK were worth $9,651,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Butensky & Cohen Financial Security Inc. bought a new stake in shares of ONEOK during the second quarter valued at approximately $5,779,000. Hudson Value Partners LLC lifted its position in ONEOK by 5.1% in the second quarter. Hudson Value Partners LLC now owns 67,843 shares of the utilities provider’s stock worth $5,898,000 after purchasing an additional 3,292 shares during the period. Tema ETFs LLC lifted its position in ONEOK by 10.5% in the second quarter. Tema ETFs LLC now owns 12,168 shares of the utilities provider’s stock worth $1,058,000 after purchasing an additional 1,160 shares during the period. Clarus Wealth Advisors boosted its stake in ONEOK by 21.7% during the second quarter. Clarus Wealth Advisors now owns 6,169 shares of the utilities provider’s stock worth $562,000 after buying an additional 1,102 shares in the last quarter. Finally, Fulcrum Equity Management boosted its stake in ONEOK by 0.7% during the second quarter. Fulcrum Equity Management now owns 51,928 shares of the utilities provider’s stock worth $4,515,000 after buying an additional 378 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 2.5%

Shares of OKE opened at $94.99 on Friday. The company has a market capitalization of $59.88 billion, a P/E ratio of 16.38, a PEG ratio of 4.83 and a beta of 0.73. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The business’s 50 day simple moving average is $89.48 and its 200-day simple moving average is $87.61. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period last year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.87 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio is presently 73.79%.

Analysts Set New Price Targets

A number of research firms have recently commented on OKE. TD Cowen raised their price objective on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Morgan Stanley restated an “equal weight” rating and set a $103.00 price target (down from $113.00) on shares of ONEOK in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $91.81.

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.