ONEOK, Inc. $OKE Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC lessened its stake in ONEOK, Inc. (NYSE:OKE) by 40.3% during the fourth quarter, Holdings Channel reports. The firm owned 9,034 shares of the utilities provider’s stock after selling 6,111 shares during the period. ELCO Management Co. LLC’s holdings in ONEOK were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OKE. Winnow Wealth LLC acquired a new position in shares of ONEOK in the 3rd quarter valued at $28,000. SRH Advisors LLC lifted its holdings in shares of ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares in the last quarter. AXS Investments LLC acquired a new position in shares of ONEOK during the 3rd quarter valued at $35,000. Accredited Wealth Management LLC lifted its holdings in shares of ONEOK by 342.5% during the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 387 shares in the last quarter. Finally, Texas Capital Bancshares Inc TX acquired a new position in shares of ONEOK during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of ONEOK stock opened at $87.79 on Tuesday. The firm has a market cap of $55.31 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 6.04 and a beta of 0.78. The firm’s 50-day simple moving average is $87.32 and its 200-day simple moving average is $79.06. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $95.30.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the company earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.9 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, May 4th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

Analysts Set New Price Targets

OKE has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Jefferies Financial Group lifted their target price on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Raymond James Financial restated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Finally, Citigroup lifted their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.88.

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.