Infrastructure Capital Advisors LLC Trims Position in ONEOK, Inc. $OKE

Infrastructure Capital Advisors LLC reduced its position in ONEOK, Inc. (NYSE:OKE) by 36.3% in the first quarter, Holdings Channel.com reports. The fund owned 91,229 shares of the utilities provider’s stock after selling 52,067 shares during the quarter. ONEOK makes up about 0.6% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 27th biggest holding. Infrastructure Capital Advisors LLC’s holdings in ONEOK were worth $8,246,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OKE. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Citigroup boosted their target price on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Barclays cut their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Finally, TD Cowen lifted their price target on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.44.

ONEOK Stock Down 4.0%

Shares of NYSE:OKE opened at $89.44 on Tuesday. The stock’s 50-day moving average price is $89.40 and its 200-day moving average price is $86.18. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The stock has a market capitalization of $56.36 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 5.01 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period last year, the firm posted $1.04 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is 76.29%.

ONEOK News Roundup

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

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.