Cohen & Steers Inc. Grows Stake in ONEOK, Inc. $OKE

Cohen & Steers Inc. grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 347,744 shares of the utilities provider’s stock after buying an additional 59,400 shares during the period. Cohen & Steers Inc. owned 0.06% of ONEOK worth $25,559,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OKE. Brighton Jones LLC increased its position in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Empowered Funds LLC increased its position in ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 137 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ONEOK during the first quarter worth $216,000. Federated Hermes Inc. increased its position in ONEOK by 14.0% during the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after buying an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in ONEOK by 3.9% during the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after buying an additional 4,902 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OKE. Barclays raised their price target on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Jefferies Financial Group lifted their price objective on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Truist Financial lifted their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Mizuho set a $89.00 price objective on ONEOK in a research report on Monday, February 23rd. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.88.

ONEOK Stock Performance

ONEOK stock opened at $90.40 on Friday. The stock’s 50-day moving average is $88.31 and its 200-day moving average is $82.58. The company has a market cap of $56.95 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 6.67 and a beta of 0.74. 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, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07.

ONEOK (NYSE:OKE) 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 firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter last year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is 76.29%.

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.