Cypress Capital Group Increases Holdings in ONEOK, Inc. $OKE

Cypress Capital Group lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 721.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,406 shares of the utilities provider’s stock after acquiring an additional 26,706 shares during the period. Cypress Capital Group’s holdings in ONEOK were worth $2,748,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Zions Bancorporation National Association UT boosted its stake in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares during the period. Elyxium Wealth LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $29,000. SRH Advisors LLC lifted its holdings in shares of ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after buying an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC purchased a new position in shares of ONEOK in the first quarter worth $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $93.13 on Friday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month 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 50-day moving average price of $89.48 and a 200-day moving average price of $85.96. The firm has a market capitalization of $58.69 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 5.01 and a beta of 0.73.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous 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, equities research analysts forecast that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. ONEOK’s dividend payout ratio is currently 76.29%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday. Jefferies Financial Group raised their price target on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Truist Financial increased their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $92.44.

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.