Jupiter Topco LLC Takes $324.81 Million Position in ONEOK, Inc. $OKE

Jupiter Topco LLC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 3,735,988 shares of the utilities provider’s stock, valued at approximately $324,807,000.

Other hedge funds have also recently bought and sold shares of the company. Capital International Investors purchased a new position in ONEOK in the fourth quarter valued at about $586,500,000. Norges Bank acquired a new stake in shares of ONEOK during the 4th quarter valued at about $564,867,000. BlackRock Inc. lifted its holdings in shares of ONEOK by 8.7% during the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock valued at $5,610,887,000 after buying an additional 5,148,768 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of ONEOK in the 2nd quarter valued at approximately $389,985,000. Finally, Kayne Anderson Capital Advisors LP acquired a new position in ONEOK in the second quarter worth approximately $335,958,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 1.4%

Shares of OKE stock opened at $91.74 on Wednesday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The business’s 50 day moving average is $90.31 and its two-hundred day moving average is $88.48. The company has a market cap of $57.83 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 2.59 and a beta of 0.73.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities analysts predict that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio is 73.79%.

Wall Street Analyst Weigh In

OKE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. TD Cowen increased their price target on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. US Capital Advisors lowered shares of ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $91.94.

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.