Van ECK Associates Corp Buys 56,633 Shares of ONEOK, Inc. $OKE

Van ECK Associates Corp lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 20.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 335,890 shares of the utilities provider’s stock after purchasing an additional 56,633 shares during the quarter. Van ECK Associates Corp owned 0.05% of ONEOK worth $24,510,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. National Pension Service increased its position in ONEOK by 2.9% during the 3rd quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock valued at $62,605,000 after purchasing an additional 24,003 shares during the period. Hudson Edge Investment Partners Inc. lifted its holdings in ONEOK by 34.1% in the third quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after buying an additional 22,282 shares during the period. Nordea Investment Management AB grew its holdings in ONEOK by 7.5% during the 3rd quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock worth $55,885,000 after acquiring an additional 54,444 shares during the period. Tectonic Advisors LLC raised its position in shares of ONEOK by 41.1% in the 3rd quarter. Tectonic Advisors LLC now owns 188,842 shares of the utilities provider’s stock worth $13,780,000 after acquiring an additional 55,024 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of ONEOK by 29.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider’s stock valued at $39,401,000 after purchasing an additional 121,891 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.2%

OKE stock opened at $85.73 on Thursday. The firm has a market capitalization of $53.99 billion, a PE ratio of 15.82, a P/E/G ratio of 5.04 and a beta of 0.93. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The stock’s 50 day moving average is $80.14 and its 200-day moving average is $74.62.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same period in the prior year, the firm posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is 78.97%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research analyst reports. Scotiabank restated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. UBS Group decreased their price target 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. Mizuho set a $89.00 target price on ONEOK in a research note on Monday, February 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target on shares of ONEOK in a report on Wednesday, January 28th. Finally, Jefferies Financial Group started coverage on ONEOK in a research report on Tuesday, January 20th. They set 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 assigned a Hold rating to the company. According to data from MarketBeat, ONEOK presently has an average 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.