Miller Global Investments LLC Purchases New Position in ONEOK, Inc. $OKE

Miller Global Investments LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,922 shares of the utilities provider’s stock, valued at approximately $876,000.

Other hedge funds have also recently bought and sold shares of the company. City Center Advisors LLC grew its holdings in shares of ONEOK by 4.2% in the 4th quarter. City Center Advisors LLC now owns 4,275 shares of the utilities provider’s stock worth $314,000 after purchasing an additional 171 shares during the last quarter. Roxbury Financial LLC bought a new position in ONEOK during the 4th quarter valued at about $77,000. GAMMA Investing LLC lifted its holdings in ONEOK by 18.2% during the 4th quarter. GAMMA Investing LLC now owns 10,959 shares of the utilities provider’s stock valued at $805,000 after purchasing an additional 1,686 shares during the last quarter. Triumph Capital Management acquired a new position in ONEOK in the third quarter valued at about $92,000. Finally, Advisors Management Group Inc. ADV boosted its position in ONEOK by 13.3% in the third quarter. Advisors Management Group Inc. ADV now owns 81,715 shares of the utilities provider’s stock valued at $5,963,000 after buying an additional 9,588 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Up 2.4%

NYSE:OKE opened at $88.27 on Friday. The stock’s fifty day moving average price is $81.76 and its two-hundred day moving average price is $75.08. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The company has a market cap of $55.59 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 6.56 and a beta of 0.93.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.50 by $0.05. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period last year, the firm earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors 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. This represents a $4.28 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is 78.97%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OKE shares. UBS Group dropped their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Mizuho set a $89.00 target price on ONEOK in a report on Monday, February 23rd. Royal Bank Of Canada increased their price target on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Thursday. Wells Fargo & Company raised their price target on ONEOK from $79.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Finally, Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.33.

About ONEOK

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.