Hodges Capital Management Inc. Has $9.65 Million Position in ONEOK, Inc. $OKE

Hodges Capital Management Inc. lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,009 shares of the utilities provider’s stock after selling 9,337 shares during the quarter. Hodges Capital Management Inc.’s holdings in ONEOK were worth $9,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OKE. Zions Bancorporation National Association UT raised its holdings in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Elyxium Wealth LLC bought a new stake in ONEOK in the fourth quarter worth $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK during the fourth quarter worth $29,000. Portus Wealth Advisors LLC acquired a new position in ONEOK during the first quarter worth $33,000. Finally, Wilkerson Advisory Group LLC raised its holdings in ONEOK by 51.4% during the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after buying an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OKE shares. Royal Bank Of Canada boosted their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Wells Fargo & Company decreased their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.81.

ONEOK Trading Up 2.5%

ONEOK stock opened at $94.99 on Friday. The business’s 50-day simple moving average is $89.48 and its 200-day simple moving average is $87.61. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The firm has a market capitalization of $59.88 billion, a PE ratio of 16.38, a PEG ratio of 4.83 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK’s dividend payout ratio (DPR) is presently 73.79%.

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.