Jennison Associates LLC Reduces Stock Position in ONEOK, Inc. $OKE

Jennison Associates LLC lessened its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 248,626 shares of the utilities provider’s stock after selling 13,705 shares during the quarter. Jennison Associates LLC’s holdings in ONEOK were worth $18,274,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. TCV Trust & Wealth Management Inc. lifted its holdings in shares of ONEOK by 4.2% in the 4th quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider’s stock valued at $242,000 after buying an additional 133 shares during the period. Empowered Funds LLC lifted its holdings in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the period. Fourpath Capital Management LLC lifted its holdings in shares of ONEOK by 1.6% in the 4th quarter. Fourpath Capital Management LLC now owns 8,628 shares of the utilities provider’s stock valued at $634,000 after buying an additional 140 shares during the period. JFS Wealth Advisors LLC lifted its holdings in shares of ONEOK by 8.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,864 shares of the utilities provider’s stock valued at $137,000 after buying an additional 144 shares during the period. Finally, Avion Wealth lifted its holdings in shares of ONEOK by 20.3% in the 4th quarter. Avion Wealth now owns 882 shares of the utilities provider’s stock valued at $64,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. TD Cowen boosted their price objective on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday. Barclays boosted their price objective on ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $91.06.

ONEOK Stock Performance

NYSE OKE opened at $90.58 on Friday. The stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 6.84 and a beta of 0.78. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $95.30. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $87.11 and a 200 day moving average of $78.35.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the previous year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.53 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. ONEOK’s dividend payout ratio is presently 76.29%.

Key ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Company raised guidance and 2026 outlook — ONEOK announced a 2026 adjusted EBITDA midpoint of $8.25B and raised its net income outlook to $3.5B, signaling stronger forward cash flow and underpinning the stock’s recent strength. ONEOK projects 2026 adjusted EBITDA midpoint of $8.25B as it raises net income outlook to $3.5B
• Positive Sentiment: Management sees momentum continuing — Coverage notes (and company commentary) highlight robust earnings growth, a 4.7% yield and management’s view that Q1 momentum will continue into the year, supporting dividend income investors. This 4.7%-Yielding Energy Stock Reported Robust Earnings Growth and Sees More Growth Coming Down the Pipeline
• Positive Sentiment: Analysts lifting views — Some analysts have issued upgrades and upward revisions to forecasts after Q1 and the guidance raise, boosting near-term sentiment and supporting share price resilience. New Forecasts: Here’s What Analysts Think The Future Holds For ONEOK, Inc. (NYSE:OKE)
• Positive Sentiment: Wells Fargo remains constructive — Wells Fargo trimmed its price target slightly (to $98) but kept an overweight rating, implying continued analyst confidence in longer-term upside. Wells Fargo price target note via Benzinga
• Positive Sentiment: Small upward EPS tweak from an independent analyst — US Capital Advisors nudged FY2027 EPS estimates slightly higher, a modest reaffirmation of earnings power. MarketBeat EPS estimate note
• Neutral Sentiment: Q1 results were mixed — ONEOK reported Q1 EPS below consensus ($1.23 vs. ~$1.30) but adjusted EBITDA rose ~12% year?over?year and management increased guidance, leaving investors weighing earnings miss vs. stronger cash-flow metrics. ONEOK (OKE) Reports First-Quarter EPS of $1.23
• Neutral Sentiment: Analyst model updates are mixed — Brokers and independent services have revised forecasts after Q1, producing both buy-side and hold-side adjustments rather than a consensus directional shift. These Analysts Revise Their Forecasts On ONEOK Following Q1 Results
• Positive Sentiment: Included on lists of attractive infrastructure stocks — Inclusion on several “infrastructure / high upside” lists can attract longer?term institutional and dividend investors. 8 Best Infrastructure Stocks to Buy with Highest Upside Potential
• Negative Sentiment: Scotiabank cut the stock — Scotiabank downgraded ONEOK, saying it’s a less compelling value versus other liquids names, which increases downside pressure from benchmark-focused investors. ONEOK cut at Scotiabank as less compelling value proposition vs other liquids names
• Negative Sentiment: TD Cowen still cautious — TD Cowen lifted its target to $85 but left a “hold” rating, implying limited near?term upside and signaling some investor skepticism; the target sits below recent trade levels. TD Cowen target change via Benzinga/The Fly

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.