QRG Capital Management Inc. Increases Stake in ONEOK, Inc. $OKE

QRG Capital Management Inc. raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 129.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,899 shares of the utilities provider’s stock after purchasing an additional 11,806 shares during the quarter. QRG Capital Management Inc.’s holdings in ONEOK were worth $1,889,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Zions Bancorporation National Association UT grew its holdings in shares of ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares during the last quarter. Elyxium Wealth LLC purchased a new position in ONEOK in the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC purchased a new position in ONEOK in the 4th quarter worth approximately $29,000. SRH Advisors LLC lifted its position in ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC bought a new position in ONEOK in the 1st quarter valued at approximately $33,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on OKE shares. Barclays lifted their target price on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Truist Financial boosted their target price on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Jefferies Financial Group upped their target price on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada raised their price target on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Thursday, March 19th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $91.88.

ONEOK Price Performance

NYSE OKE opened at $90.73 on Wednesday. The company has a 50-day moving average price of $88.66 and a 200-day moving average price of $84.33. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $57.17 billion, a P/E ratio of 16.17, a PEG ratio of 6.54 and a beta of 0.73.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the previous year, the business posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. ONEOK’s payout ratio is presently 76.29%.

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.