RW Investment Management LLC Sells 8,600 Shares of ONEOK, Inc. $OKE

RW Investment Management LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 61.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,427 shares of the utilities provider’s stock after selling 8,600 shares during the period. RW Investment Management LLC’s holdings in ONEOK were worth $396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. National Pension Service increased its stake in shares of 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 acquiring an additional 24,003 shares in the last quarter. Hudson Edge Investment Partners Inc. lifted its position in shares of ONEOK by 34.1% during 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 acquiring an additional 22,282 shares during the period. Nordea Investment Management AB boosted its stake in ONEOK by 7.5% during the third quarter. Nordea Investment Management AB now owns 777,262 shares of the utilities provider’s stock worth $55,885,000 after acquiring an additional 54,444 shares in the last quarter. Tectonic Advisors LLC grew its holdings in 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 period. Finally, Jones Financial Companies Lllp grew its holdings in 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 period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock 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’s 50 day moving average price is $80.59 and its two-hundred day moving average price is $74.77. The stock has a market cap of $53.81 billion, a P/E ratio of 15.76, a P/E/G ratio of 6.47 and a beta of 0.93. 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 released its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates 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 company posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on OKE. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Wells Fargo & Company raised their target price on ONEOK from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. lowered ONEOK from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $87.00 to $83.00 in a research report on Tuesday, January 27th. Scotiabank reaffirmed an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research note on Friday, January 16th. Finally, UBS Group cut their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.60.

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.