Recent developments relate to ONEOK, Inc. (OKE) experiencing a boom in institutional ownership, with various LLC entities increasing their stakes. Despite market declines, OKE's shares saw an upswing, even outperforming competitors on certain trading days. Notably, the company purchased Easton's NGL Pipeline System for $280M, presenting potential growth. The stock's price target was boosted to $92.00 by analysts at JPMorgan Chase & Co., despite underperforming the market occasionally. Remarkably, OKE's long-term fee-based commitments and growth efforts received positivity from the investment community. Although OKE missed Q1 earnings and revenue estimates, its stocks continued to generate interest. The company is proceeding with a 3.7% dividend hike to reward shareholders, promising a 4.9% yield. OKE's future seems promising with increased volumes driving expected EBITDA growth in 2024. However, it is important to note that OKE missed both earnings and revenue expectations recently, with weaker-than-expected figures. Lastly, despite the recent dip in market cap, long-term gains still attract institutional investors.
Oneok OKE News Analytics from Tue, 02 Jan 2024 08:00:00 GMT to Sun, 30 Jun 2024 11:25:19 GMT - Rating 7 - Innovation 2 - Information 8 - Rumor -5
