Todd Asset Management LLC Has $47.95 Million Stake in ONEOK, Inc. $OKE

Todd Asset Management LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 2.1% during the second quarter, HoldingsChannel.com reports. The fund owned 551,498 shares of the utilities provider’s stock after acquiring an additional 11,568 shares during the quarter. Todd Asset Management LLC’s holdings in ONEOK were worth $47,947,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of OKE. Clearstead Trust LLC boosted its stake in shares of ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after purchasing an additional 117 shares in the last quarter. Hoxton Planning & Management LLC grew its holdings in shares of ONEOK by 2.3% in the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 120 shares during the last quarter. Welch Group LLC increased its position in shares of ONEOK by 0.8% during the 1st quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after purchasing an additional 122 shares in the last quarter. Pine Valley Investments Ltd Liability Co increased its position in shares of ONEOK by 0.5% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock worth $2,374,000 after purchasing an additional 122 shares in the last quarter. Finally, FAS Wealth Partners Inc. lifted its holdings in ONEOK by 2.1% during the 1st quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 123 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $103.00 price objective (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. Wells Fargo & Company cut their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.81.

ONEOK Stock Up 2.5%

Shares of OKE opened at $94.99 on Friday. The business’s fifty day moving average price is $89.48 and its two-hundred day moving average price is $87.61. The firm has a market capitalization of $59.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 4.83 and a beta of 0.73. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts predict that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s payout ratio is currently 73.79%.

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.