First Eagle Investment Management LLC Buys 3,596,089 Shares of ONEOK, Inc. $OKE

First Eagle Investment Management LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 46.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,365,304 shares of the utilities provider’s stock after acquiring an additional 3,596,089 shares during the quarter. ONEOK comprises 1.5% of First Eagle Investment Management LLC’s holdings, making the stock its 29th largest holding. First Eagle Investment Management LLC’s holdings in ONEOK were worth $835,350,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OKE. 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 valued at $62,605,000 after buying an additional 24,003 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its stake in ONEOK by 34.1% in the 3rd 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 last quarter. Nordea Investment Management AB increased its stake in ONEOK by 7.5% in the 3rd quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock valued at $55,885,000 after buying an additional 54,444 shares during the last quarter. Legal & General Group Plc increased its stake in shares of ONEOK by 1.6% during the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after purchasing an additional 80,683 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of ONEOK by 29.6% during the 3rd 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 and hedge funds.

ONEOK Stock Up 3.1%

Shares of NYSE:OKE opened at $87.79 on Tuesday. The firm has a fifty day moving average price of $87.32 and a two-hundred day moving average price of $79.06. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a one year low of $64.02 and a one year high of $95.30. The company has a market cap of $55.31 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 6.04 and a beta of 0.78.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Analysts anticipate that ONEOK, Inc. will post 5.9 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, May 4th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, May 4th. ONEOK’s payout ratio is currently 76.29%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research note on Monday, May 4th. Jefferies Financial Group raised their price target on shares of ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Wells Fargo & Company decreased their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Finally, Barclays raised their price target on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $91.88.

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.