Paradigm Capital Management LLC NV Acquires New Stake in ONEOK, Inc. $OKE

Paradigm Capital Management LLC NV bought a new position in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,598 shares of the utilities provider’s stock, valued at approximately $1,095,000. ONEOK accounts for about 0.9% of Paradigm Capital Management LLC NV’s investment portfolio, making the stock its 27th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Fiduciary Financial Advisors purchased a new position in shares of ONEOK during the second quarter worth approximately $55,000. Manning & Napier Advisors LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $53,000. L2 Asset Management LLC purchased a new stake in shares of ONEOK in the second quarter valued at approximately $313,000. Aberdeen Wealth Management LLC purchased a new stake in shares of ONEOK in the second quarter valued at approximately $43,000. Finally, Visionary Wealth Advisors bought a new position in ONEOK in the second quarter worth approximately $554,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.3%

Shares of NYSE OKE opened at $93.06 on Tuesday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90. The business has a fifty day moving average price of $90.20 and a 200 day moving average price of $88.40. The stock has a market capitalization of $58.66 billion, a P/E ratio of 16.05, a price-to-earnings-growth ratio of 2.60 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 73.79%.

Wall Street Analyst Weigh In

OKE has been the subject of a number of research analyst reports. Barclays decreased their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Royal Bank Of Canada increased their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Truist Financial raised their target price on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Finally, Raymond James Financial restated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.94.

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.