Geode Capital Management LLC Raises Stake in ONEOK, Inc. $OKE

Geode Capital Management LLC grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.2% in the fourth quarter, Holdings Channel reports. The firm owned 16,596,172 shares of the utilities provider’s stock after acquiring an additional 518,746 shares during the period. Geode Capital Management LLC’s holdings in ONEOK were worth $1,215,107,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OKE. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 46.3% during 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 boosted its stake in shares of 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 purchasing an additional 1,644,945 shares during the period. Man Group plc boosted its stake in shares of 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 purchasing an additional 1,161,352 shares during the period. Swiss Life Asset Management Ltd boosted its stake in shares of 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 purchasing an additional 1,045,976 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 711,619 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OKE shares. Mizuho set a $89.00 target price on shares of ONEOK in a research note on Monday, February 23rd. Jefferies Financial Group lifted their price objective on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Truist Financial lifted their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Finally, TD Cowen lifted their price objective on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $91.88.

ONEOK Stock Performance

Shares of ONEOK stock opened at $84.05 on Friday. The company has a market capitalization of $52.95 billion, a PE ratio of 14.98, a P/E/G ratio of 6.46 and a beta of 0.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The company has a 50-day simple moving average of $88.85 and a two-hundred day simple moving average of $81.26. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during 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 in the prior year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts expect that ONEOK, Inc. will post 5.76 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 5.1%. ONEOK’s 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.