Cottage Street Advisors LLC Sells 36,511 Shares of ONEOK, Inc. $OKE

Cottage Street Advisors LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 76.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,147 shares of the utilities provider’s stock after selling 36,511 shares during the period. Cottage Street Advisors LLC’s holdings in ONEOK were worth $819,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of ONEOK by 0.9% in the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock worth $5,634,932,000 after purchasing an additional 711,619 shares in the last quarter. Invesco Ltd. lifted its position in shares of ONEOK by 6.3% in the third quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after purchasing an additional 532,267 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of ONEOK by 24.2% in the third quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock worth $566,920,000 after purchasing an additional 1,513,042 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ONEOK by 14.9% in the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock worth $396,462,000 after purchasing an additional 703,834 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of ONEOK by 1.6% in the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after purchasing an additional 80,683 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the topic of several analyst reports. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Morgan Stanley upped their price target on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Barclays upped their price target on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, Mizuho set a $89.00 price target on shares of ONEOK in a research report on Monday, February 23rd. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $89.69.

ONEOK Price Performance

Shares of OKE opened at $84.17 on Thursday. The firm has a market capitalization of $53.03 billion, a PE ratio of 15.53, a PEG ratio of 6.40 and a beta of 0.84. The company’s 50-day moving average is $86.55 and its 200-day moving average is $77.19. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $95.30. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 5.1%. ONEOK’s payout ratio is currently 78.97%.

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.