Waverly Advisors LLC Grows Holdings in ONEOK, Inc. $OKE

Waverly Advisors LLC grew its position in ONEOK, Inc. (NYSE:OKE) by 335.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 77,687 shares of the utilities provider’s stock after acquiring an additional 59,831 shares during the period. Waverly Advisors LLC’s holdings in ONEOK were worth $7,022,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of OKE. Capital International Investors acquired a new position in shares of ONEOK during the 4th quarter worth approximately $586,500,000. Norges Bank acquired a new stake in ONEOK in the 4th quarter valued at $564,867,000. First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after acquiring an additional 3,596,089 shares in the last quarter. Danske Bank A S raised its position in ONEOK by 3,538.4% during the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after acquiring an additional 1,644,945 shares during the period. Finally, Man Group plc raised its position in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after acquiring an additional 1,161,352 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price 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. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research note on Thursday, April 30th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Truist Financial boosted their price objective on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and a consensus target price of $92.44.

ONEOK Price Performance

ONEOK stock opened at $89.44 on Tuesday. The company has a fifty day simple moving average of $89.40 and a 200-day simple moving average of $86.18. The firm has a market capitalization of $56.36 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 5.01 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the business posted $1.04 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 5.68 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

Key Stories Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK remains positioned to benefit from long-term midstream trends, including rising LNG exports and growing power demand from data centers. Its shareholder-return profile also keeps it on the radar of income-focused investors. 3 Midstream Stocks Paying You While You Wait for July to End
• Positive Sentiment: A Zacks feature identifies OKE as a potential long-term growth stock based on its style-score characteristics, supporting the longer-term investment case despite near-term volatility. Why ONEOK Is a Top Growth Stock for the Long-Term
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, indicating limited conviction that current valuation offers a clear catalyst for an immediate move higher. ONEOK Given Consensus Rating of Hold
• Negative Sentiment: Near-term earnings expectations are weighing on sentiment. Zacks says ONEOK lacks the two key indicators typically associated with a likely earnings beat in its upcoming report, raising the risk of a disappointing announcement. ONEOK Earnings Expected to Grow
• Negative Sentiment: The latest decline follows an earlier quarterly EPS miss: ONEOK reported $1.23 per share versus the $1.30 consensus, despite revenue exceeding estimates. That history may be making investors more cautious ahead of the next results.

About ONEOK

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.