Twelve Points Wealth Management LLC Trims Stock Position in ONEOK, Inc. $OKE

Twelve Points Wealth Management LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,602 shares of the utilities provider’s stock after selling 9,144 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in ONEOK were worth $2,225,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. City Holding Co. purchased a new stake in shares of ONEOK during the 3rd quarter valued at approximately $28,000. Winnow Wealth LLC acquired a new position in ONEOK in the third quarter valued at approximately $28,000. Global Wealth Strategies & Associates purchased a new position in ONEOK in the third quarter worth approximately $29,000. Financial Consulate Inc. acquired a new stake in ONEOK during the third quarter worth $29,000. Finally, SRH Advisors LLC increased its stake in ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.1%

OKE opened at $86.26 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $95.30. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $86.15 and a 200-day simple moving average of $76.93. The firm has a market cap of $54.35 billion, a P/E ratio of 15.91, a P/E/G ratio of 6.53 and a beta of 0.84.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the prior year, the company earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. 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. ONEOK’s dividend payout ratio is currently 78.97%.

Analysts Set New Price Targets

Several equities analysts have recently commented on OKE shares. JPMorgan Chase & Co. lowered ONEOK from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $87.00 to $83.00 in a research note on Tuesday, January 27th. Wells Fargo & Company upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $81.00 to $100.00 in a report on Wednesday, March 25th. Wolfe Research cut shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Jefferies Financial Group increased their target price on shares of ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Truist Financial started coverage on shares of ONEOK in a research report on Tuesday, March 24th. They set a “hold” rating and a $91.00 price target for the company. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $89.63.

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.