Spirit of America Management Corp NY Sells 12,800 Shares of ONEOK, Inc. $OKE

Spirit of America Management Corp NY cut its holdings in ONEOK, Inc. (NYSE:OKE) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,072 shares of the utilities provider’s stock after selling 12,800 shares during the quarter. Spirit of America Management Corp NY’s holdings in ONEOK were worth $3,901,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ONEOK by 0.9% in the 3rd 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 last quarter. Invesco Ltd. increased its position in ONEOK by 6.3% during the third quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after buying an additional 532,267 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in ONEOK by 24.2% during the third quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock valued at $566,920,000 after buying an additional 1,513,042 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in ONEOK by 14.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock valued at $396,462,000 after buying an additional 703,834 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of ONEOK by 1.6% in the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after buying an additional 80,683 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on OKE. Jefferies Financial Group upgraded ONEOK from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $98.00 in a research note on Friday, March 20th. Wolfe Research lowered ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Barclays increased their price target on ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Truist Financial initiated coverage on shares of ONEOK in a research report on Tuesday, March 24th. They issued a “hold” rating and a $91.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.94.

ONEOK Trading Down 1.1%

ONEOK stock opened at $92.91 on Tuesday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $100.57. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The firm has a market capitalization of $58.51 billion, a PE ratio of 17.14, a PEG ratio of 7.13 and a beta of 0.93. The business’s 50-day simple moving average is $84.27 and its 200-day simple moving average is $76.01.

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

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s dividend payout ratio (DPR) is currently 78.97%.

ONEOK Company 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.