OFI Invest Asset Management Takes $587,000 Position in ONEOK, Inc. $OKE

OFI Invest Asset Management bought a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, Holdings Channel.com reports. The firm bought 7,991 shares of the utilities provider’s stock, valued at approximately $587,000.

Other institutional investors have also recently bought and sold shares of the company. Winnow Wealth LLC bought a new stake in ONEOK in the 3rd quarter valued at approximately $28,000. City Holding Co. bought a new stake in ONEOK in the 3rd quarter valued at approximately $28,000. Global Wealth Strategies & Associates bought a new stake in ONEOK in the 3rd quarter valued at approximately $29,000. Financial Consulate Inc. bought a new stake in ONEOK in the 3rd quarter valued at approximately $29,000. Finally, SRH Advisors LLC lifted its stake in ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.7%

NYSE:OKE opened at $86.17 on Friday. The firm has a market capitalization of $54.29 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 6.57 and a beta of 0.84. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $95.30. The stock’s 50 day moving average price is $86.01 and its two-hundred day moving average price is $76.82. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same quarter in the previous year, the firm earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s payout ratio is presently 78.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OKE shares. Barclays boosted their target price on ONEOK from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Truist Financial started coverage on ONEOK in a research note on Tuesday, March 24th. They issued a “hold” rating and a $91.00 target price on the stock. Wells Fargo & Company upgraded ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $81.00 to $100.00 in a research note on Wednesday, March 25th. UBS Group cut their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Finally, Scotiabank reaffirmed an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.63.

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.