Crawford Investment Counsel Inc. Has $20.71 Million Holdings in ONEOK, Inc. $OKE

Crawford Investment Counsel Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 283,773 shares of the utilities provider’s stock after acquiring an additional 14,672 shares during the period. Crawford Investment Counsel Inc.’s holdings in ONEOK were worth $20,707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKE. City Holding Co. acquired a new position in ONEOK in the 3rd quarter worth $28,000. Winnow Wealth LLC acquired a new stake in shares of ONEOK in the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates bought a new stake in shares of ONEOK in the third quarter valued at about $29,000. Financial Consulate Inc. bought a new stake in shares of ONEOK in the third quarter valued at about $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of ONEOK during the second quarter worth about $34,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays increased their price objective on ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Wells Fargo & Company upped their price target on ONEOK from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday. 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. Scotiabank reiterated an “outperform” rating and issued a $91.00 price objective on shares of ONEOK in a report on Friday, January 16th. Finally, Jefferies Financial Group started coverage on shares of ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $86.60.

ONEOK Price Performance

NYSE:OKE opened at $85.44 on Friday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64. The company has a market cap of $53.81 billion, a P/E ratio of 15.76, a P/E/G ratio of 6.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The stock’s 50-day simple moving average is $80.59 and its 200 day simple moving average is $74.77.

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

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, February 2nd. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is currently 78.97%.

ONEOK 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.