Torray Investment Partners LLC Has $21.57 Million Stock Holdings in ONEOK, Inc. $OKE

by · The Cerbat Gem

Torray Investment Partners LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE – Free Report) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238,682 shares of the utilities provider’s stock after selling 21,300 shares during the quarter. ONEOK makes up about 3.2% of Torray Investment Partners LLC’s portfolio, making the stock its 11th biggest holding. Torray Investment Partners LLC’s holdings in ONEOK were worth $21,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Capital International Investors acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $586,500,000. Norges Bank bought a new position in shares of ONEOK in the fourth quarter valued at $564,867,000. First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after buying an additional 3,596,089 shares during the last quarter. Danske Bank A S raised its position in ONEOK by 3,538.4% during the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock worth $124,320,000 after acquiring an additional 1,644,945 shares in the last quarter. Finally, Man Group plc raised its position in ONEOK by 292.1% during the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after acquiring an additional 1,161,352 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on OKE shares. Jefferies Financial Group increased their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Truist Financial upped their target price on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $91.75.

View Our Latest Stock Analysis on ONEOK

ONEOK Stock Performance

ONEOK stock traded up $0.40 during mid-day trading on Friday, hitting $89.90. 2,420,531 shares of the company’s stock traded hands, compared to its average volume of 3,645,505. The firm has a 50 day simple moving average of $88.73 and a two-hundred day simple moving average of $84.63. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 6.69 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period last year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK’s payout ratio is presently 76.29%.

About ONEOK

(Free Report)

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.

Further Reading

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