Connor Clark & Lunn Investment Management Ltd. Makes New $38.16 Million Investment in ONEOK, Inc. $OKE

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 438,945 shares of the utilities provider’s stock, valued at approximately $38,162,000.

A number of other large investors have also made changes to their positions in the stock. Triune Financial Partners LLC acquired a new stake in shares of ONEOK in the 4th quarter worth approximately $1,151,000. Swiss Life Asset Management Ltd raised its holdings in ONEOK by 219.5% during 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 during the last quarter. Castle Rock Wealth Management LLC raised its holdings in ONEOK by 360.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider’s stock worth $2,815,000 after purchasing an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC boosted its position in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in ONEOK by 3.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,297,858 shares of the utilities provider’s stock valued at $168,943,000 after purchasing an additional 77,019 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Citigroup raised their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, US Capital Advisors cut shares of ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Performance

ONEOK stock opened at $93.06 on Tuesday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. The company has a market capitalization of $58.66 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 2.60 and a beta of 0.73. The stock has a fifty day moving average of $90.20 and a two-hundred day moving average of $88.40. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period in the prior year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio is 73.79%.

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.