DNB Asset Management AS Increases Stock Holdings in ONEOK, Inc. $OKE

DNB Asset Management AS boosted its stake in ONEOK, Inc. (NYSE:OKE) by 6.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 133,414 shares of the utilities provider’s stock after acquiring an additional 8,184 shares during the quarter. DNB Asset Management AS’s holdings in ONEOK were worth $9,806,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of OKE. First Eagle Investment Management LLC grew its holdings in ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the period. Danske Bank A S grew 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 valued at $124,320,000 after acquiring an additional 1,644,945 shares during the period. Man Group plc grew 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 valued at $127,261,000 after acquiring an additional 1,161,352 shares during the period. Swiss Life Asset Management Ltd grew its position in ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock valued at $111,897,000 after acquiring an additional 1,045,976 shares during the period. Finally, Vanguard Group Inc. grew its position in ONEOK by 0.9% during the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock valued at $5,634,932,000 after acquiring an additional 711,619 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Citigroup boosted their price target on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Raymond James Financial reissued an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. Truist Financial boosted their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $91.88.

ONEOK Price Performance

Shares of OKE stock opened at $92.31 on Monday. The company has a market capitalization of $58.16 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 6.71 and a beta of 0.78. The firm has a fifty day simple moving average of $87.77 and a 200-day simple moving average of $79.65. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $95.30.

ONEOK (NYSE:OKE) last announced its 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). The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter last year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK’s dividend payout ratio is currently 76.29%.

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.