Prevail Innovative Wealth Advisors LLC Acquires 8,884 Shares of ONEOK, Inc. $OKE

Prevail Innovative Wealth Advisors LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 76.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,481 shares of the utilities provider’s stock after buying an additional 8,884 shares during the quarter. Prevail Innovative Wealth Advisors LLC’s holdings in ONEOK were worth $1,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. Dynamic Technology Lab Private Ltd bought a new stake in shares of ONEOK in the third quarter worth approximately $797,000. Meiji Yasuda Asset Management Co Ltd. lifted its position in ONEOK by 1.5% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,748 shares of the utilities provider’s stock valued at $930,000 after purchasing an additional 190 shares during the period. CreativeOne Wealth LLC lifted its position in ONEOK by 6.9% during the third quarter. CreativeOne Wealth LLC now owns 20,347 shares of the utilities provider’s stock valued at $1,485,000 after purchasing an additional 1,313 shares during the period. Guardian Partners Inc. purchased a new stake in ONEOK in the third quarter worth approximately $781,000. Finally, Ameriflex Group Inc. grew its position in ONEOK by 13.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,534 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 176 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.6%

OKE opened at $86.95 on Monday. The firm’s 50 day simple moving average is $79.43 and its two-hundred day simple moving average is $74.39. The company has a market capitalization of $54.76 billion, a PE ratio of 16.04, a PEG ratio of 5.13 and a beta of 0.93. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $103.64. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s dividend payout ratio is presently 78.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OKE shares. UBS Group decreased their target price on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Scotiabank restated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research note on Friday, January 16th. Wolfe Research lowered ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Jefferies Financial Group assumed coverage on ONEOK in a report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Hold” and an average price target of $86.47.

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.