9,737 Shares in ONEOK, Inc. $OKE Purchased by Old West Investment Management LLC

Old West Investment Management LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 9,737 shares of the utilities provider’s stock, valued at approximately $847,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Meridian Wealth Management LLC increased its position in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock worth $574,000 after buying an additional 115 shares during the period. Clearstead Trust LLC boosted its position in shares of ONEOK by 4.7% in the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after acquiring an additional 117 shares during the period. Hoxton Planning & Management LLC boosted its position in shares of ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 120 shares during the period. Welch Group LLC grew its stake in shares of ONEOK by 0.8% in the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after acquiring an additional 122 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in shares of ONEOK by 0.5% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock worth $2,374,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $94.99 on Monday. The firm has a market capitalization of $59.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 7.10 and a beta of 0.73. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The business has a fifty day simple moving average of $89.48 and a 200 day simple moving average of $87.68. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34.

ONEOK (NYSE:OKE) last posted its quarterly earnings results 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. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter 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. Sell-side analysts expect that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s payout ratio is 73.79%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OKE shares. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Truist Financial boosted their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Royal Bank Of Canada upped their price objective on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of ONEOK in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.81.

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.