ONEOK, Inc. $OKE Shares Sold by South Street Advisors LLC

South Street Advisors LLC reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 21.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 44,915 shares of the utilities provider’s stock after selling 12,417 shares during the quarter. South Street Advisors LLC’s holdings in ONEOK were worth $3,905,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Zions Bancorporation National Association UT raised its stake in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares during the period. Portus Wealth Advisors LLC acquired a new position in ONEOK in the first quarter valued at approximately $33,000. Elyxium Wealth LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $29,000. Wilkerson Advisory Group LLC grew its holdings in shares of ONEOK by 51.4% during the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $29,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE opened at $94.99 on Friday. The firm has a market capitalization of $59.88 billion, a PE ratio of 16.38, a P/E/G ratio of 4.95 and a beta of 0.73. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $89.48 and a 200 day moving average price of $87.61. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.5%. ONEOK’s payout ratio is presently 73.79%.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. TD Cowen increased their target price on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Royal Bank Of Canada raised their target price on ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $103.00 price target (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.81.

ONEOK 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.