Independent Financial Group LLC Buys Shares of 5,458 ONEOK, Inc. $OKE

Independent Financial Group LLC acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,458 shares of the utilities provider’s stock, valued at approximately $493,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Enterprise Financial Services Corp purchased a new position in shares of ONEOK during the 1st quarter valued at $229,000. Wealthfront Advisers LLC raised its holdings in shares of ONEOK by 9.6% during the first quarter. Wealthfront Advisers LLC now owns 98,131 shares of the utilities provider’s stock worth $8,870,000 after acquiring an additional 8,632 shares in the last quarter. D.A. Davidson & CO. boosted its position in ONEOK by 62.5% during the first quarter. D.A. Davidson & CO. now owns 176,948 shares of the utilities provider’s stock valued at $15,994,000 after purchasing an additional 68,046 shares during the last quarter. RFG Bristol Wealth Advisors LLC acquired a new stake in ONEOK during the first quarter valued at $227,000. Finally, Beaumont Financial Advisors LLC purchased a new position in ONEOK in the first quarter valued at about $209,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $93.17 on Friday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The stock’s 50-day moving average is $89.47 and its two-hundred day moving average is $85.91. The firm has a market cap of $58.71 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 4.94 and a beta of 0.73. 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 (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter last year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK’s dividend payout ratio is presently 76.29%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen upped their target price on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research note on Thursday, April 30th. Citigroup increased their price objective on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average target price of $92.44.

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.