OMERS ADMINISTRATION Corp Increases Stake in ONEOK, Inc. $OKE

OMERS ADMINISTRATION Corp increased its holdings in ONEOK, Inc. (NYSE:OKE) by 31.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 27,512 shares of the utilities provider’s stock after buying an additional 6,584 shares during the period. OMERS ADMINISTRATION Corp’s holdings in ONEOK were worth $2,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Aberdeen Group plc boosted its position in shares of ONEOK by 46.0% during the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after purchasing an additional 301,654 shares in the last quarter. Swiss Life Asset Management Ltd raised its holdings in ONEOK by 219.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Triune Financial Partners LLC bought a new position in ONEOK in the fourth quarter worth $1,151,000. Royal Fund Management LLC lifted its position in ONEOK by 40.8% during the fourth quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock valued at $5,907,000 after buying an additional 23,281 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE OKE opened at $89.00 on Wednesday. The firm has a market cap of $56.08 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 4.84 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $89.27 and a 200-day moving average price of $86.31. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07.

ONEOK (NYSE:OKE) last issued its 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). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the firm posted $1.04 earnings per share. As a group, equities research analysts predict that ONEOK, Inc. will post 5.65 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 76.29%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OKE. JPMorgan Chase & Co. lifted their price target on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Truist Financial raised their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Morgan Stanley upped their target price on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. TD Cowen raised their price target on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Barclays decreased their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus target price of $92.44.

ONEOK News Roundup

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK reaffirmed its quarterly dividend at $1.07 per share, maintaining an annualized payout of $4.28. The commitment supports the stock’s income appeal, particularly as midstream companies continue to generate strong free cash flow that can fund dividends and buybacks. ONEOK affirms dividend ahead of earnings Midstream and MLP free cash flow
• Positive Sentiment: Valuation coverage argues that OKE remains reasonably priced after delivering a roughly 126% total return over five years, with discounted-cash-flow and market-multiple estimates placing fair value above the recent share price. Zacks also identifies the company as attractive for momentum and long-term growth-oriented investors. ONEOK valuation analysis ONEOK momentum stock analysis
• Neutral Sentiment: Analysts expect earnings to grow, but ONEOK’s consensus analyst rating remains “Hold,” suggesting limited conviction ahead of the report. Investors will be watching results and management guidance for confirmation of the growth outlook. ONEOK consensus rating
• Negative Sentiment: Recent trading showed OKE weakening even as the broader market rose. Zacks also noted that the company lacks the two key indicators typically associated with a likely earnings beat, increasing near-term event risk. ONEOK previously reported quarterly EPS below consensus, making the upcoming earnings release especially important. ONEOK earnings expectations

ONEOK Company Profile

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.