ONEOK, Inc. $OKE is Recurrent Investment Advisors LLC’s 4th Largest Position

Recurrent Investment Advisors LLC increased its holdings in ONEOK, Inc. (NYSE:OKE) by 17.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,115,396 shares of the utilities provider’s stock after purchasing an additional 166,638 shares during the quarter. ONEOK accounts for 6.2% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 4th biggest position. Recurrent Investment Advisors LLC’s holdings in ONEOK were worth $81,390,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. National Pension Service increased its stake in ONEOK by 2.9% in the 3rd quarter. National Pension Service now owns 857,949 shares of the utilities provider’s stock worth $62,605,000 after purchasing an additional 24,003 shares during the period. Hudson Edge Investment Partners Inc. boosted its stake in shares of ONEOK by 34.1% during 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 purchasing an additional 22,282 shares during the period. Nordea Investment Management AB boosted its stake in shares of ONEOK by 7.5% during the third quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock valued at $55,885,000 after purchasing an additional 54,444 shares during the period. Tectonic Advisors LLC grew its holdings in shares of ONEOK by 41.1% in the third quarter. Tectonic Advisors LLC now owns 188,842 shares of the utilities provider’s stock worth $13,780,000 after purchasing an additional 55,024 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of ONEOK by 29.6% in the third quarter. Jones Financial Companies Lllp now owns 534,285 shares of the utilities provider’s stock worth $39,401,000 after purchasing an additional 121,891 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $85.01 on Friday. The firm has a market capitalization of $53.54 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 6.53 and a beta of 0.93. The stock has a fifty day moving average of $80.37 and a 200 day moving average of $74.70. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. 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 (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. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the previous year, the firm earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OKE. Morgan Stanley reiterated an “overweight” rating and set a $104.00 price target on shares of ONEOK in a report on Wednesday, January 28th. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Barclays boosted their price objective on shares of ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Jefferies Financial Group assumed coverage on shares of ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on shares of ONEOK from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average target price of $86.47.

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.