Longfellow Investment Management Co. LLC Invests $668,000 in ONEOK, Inc. $OKE

Longfellow Investment Management Co. LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 9,157 shares of the utilities provider’s stock, valued at approximately $668,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of ONEOK in the second quarter valued at approximately $562,832,000. First Eagle Investment Management LLC boosted its position in shares of ONEOK by 130.8% during the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after buying an additional 3,545,256 shares during the period. Boston Partners grew its holdings in ONEOK by 53.7% in the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after buying an additional 1,924,864 shares in the last quarter. Vanguard Group Inc. increased its position in ONEOK by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after acquiring an additional 1,314,002 shares during the period. Finally, Man Group plc raised its stake in ONEOK by 292.1% during the 2nd 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 in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE opened at $85.65 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The firm’s 50 day moving average is $79.15 and its 200-day moving average is $74.28. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $103.64. The stock has a market capitalization of $53.94 billion, a P/E ratio of 15.80, a P/E/G ratio of 4.99 and a beta of 0.93.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same period last year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is presently 78.97%.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target for the company. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. UBS Group dropped their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $87.00 to $83.00 in a research note on Tuesday, January 27th. Finally, Mizuho set a $89.00 price objective on shares of ONEOK in a research note on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $86.47.

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.