Empowered Funds LLC Buys 13,103 Shares of ONEOK, Inc. $OKE

Empowered Funds LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 21.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,242 shares of the utilities provider’s stock after purchasing an additional 13,103 shares during the period. Empowered Funds LLC’s holdings in ONEOK were worth $6,368,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Capital International Investors bought a new stake in shares of ONEOK during the 4th quarter worth $586,500,000. Norges Bank bought a new position in ONEOK in the 4th quarter worth $564,867,000. BlackRock Inc. lifted its position in ONEOK by 8.7% during the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after acquiring an additional 5,148,768 shares during the last quarter. Legal & General Group Plc bought a new stake in ONEOK during the second quarter valued at about $389,985,000. Finally, Kayne Anderson Capital Advisors LP acquired a new stake in shares of ONEOK in the second quarter valued at about $335,958,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $94.88 on Monday. The firm has a market capitalization of $59.81 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.73. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $97.90. The firm has a 50-day moving average price of $90.89 and a 200 day moving average price of $88.75.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.95 billion. During the same period in the previous year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank Of Canada lifted their price objective on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Morgan Stanley increased their target price on ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. increased their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.