Sterling Capital Management LLC Decreases Stock Holdings in ONEOK, Inc. $OKE

Sterling Capital Management LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 13.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,893 shares of the utilities provider’s stock after selling 22,984 shares during the period. Sterling Capital Management LLC’s holdings in ONEOK were worth $12,826,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT boosted its position in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the period. Elyxium Wealth LLC acquired a new position in ONEOK during the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $29,000. SRH Advisors LLC grew its position in ONEOK by 122.3% in the fourth 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. Finally, Accredited Wealth Management LLC raised its stake in shares of ONEOK by 342.5% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 387 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

Shares of OKE opened at $89.18 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The firm has a market cap of $56.20 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 6.69 and a beta of 0.74. The stock has a 50 day moving average of $88.32 and a 200-day moving average of $83.55.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the prior year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

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

Analysts Set New Price Targets

OKE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Truist Financial increased their price target on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. TD Cowen lifted their price objective on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Finally, Barclays upped their target price on ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating 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 stock. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $91.88.

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.