Torray Investment Partners LLC Purchases New Shares in ONEOK, Inc. $OKE

Torray Investment Partners LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel reports. The fund purchased 259,982 shares of the utilities provider’s stock, valued at approximately $19,109,000. ONEOK accounts for approximately 2.7% of Torray Investment Partners LLC’s portfolio, making the stock its 16th largest holding.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in ONEOK by 0.9% during the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock valued at $5,634,932,000 after purchasing an additional 711,619 shares in the last quarter. Invesco Ltd. raised its stake 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 valued at $650,827,000 after acquiring an additional 532,267 shares during the period. First Eagle Investment Management LLC raised its stake 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 valued at $566,920,000 after acquiring an additional 1,513,042 shares during the period. Dimensional Fund Advisors LP raised its stake 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 valued at $396,462,000 after acquiring an additional 703,834 shares during the period. Finally, Legal & General Group Plc raised its stake 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 valued at $380,785,000 after acquiring an additional 80,683 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research note on Monday, December 29th. Barclays increased their target price on shares of ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Wells Fargo & Company raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $81.00 to $100.00 in a research note on Wednesday, March 25th. Truist Financial initiated coverage on shares of ONEOK in a research note on Tuesday, March 24th. They issued a “hold” rating and a $91.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.69.

ONEOK Stock Up 0.2%

Shares of NYSE:OKE traded up $0.17 during trading on Thursday, reaching $86.23. The stock had a trading volume of 252,486 shares, compared to its average volume of 4,882,427. ONEOK, Inc. has a one year low of $64.02 and a one year high of $95.30. The company has a market capitalization of $54.33 billion, a P/E ratio of 15.91, a PEG ratio of 6.28 and a beta of 0.84. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The firm’s 50-day simple moving average is $86.74 and its 200 day simple moving average is $77.60.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. During the same period last year, the business earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.64 EPS for the current fiscal year.

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.