Diversify Advisory Services LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,829 shares of the utilities provider’s stock, valued at approximately $1,953,000.
Several other hedge funds also recently bought and sold shares of OKE. Zions Bancorporation National Association UT increased its position in ONEOK by 73.3% during 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 in the last quarter. Portus Wealth Advisors LLC acquired a new position in ONEOK during the first quarter worth approximately $33,000. Elyxium Wealth LLC acquired a new stake in shares of ONEOK during the 4th quarter worth $29,000. Wilkerson Advisory Group LLC increased its stake in ONEOK by 51.4% during the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new position in ONEOK in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on OKE shares. Weiss Ratings reissued a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Citigroup upped their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wells Fargo & Company decreased their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Morgan Stanley boosted their price objective on ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $91.94.
ONEOK Stock Up 2.4%
OKE stock opened at $97.58 on Wednesday. The firm has a market cap of $61.51 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 7.10 and a beta of 0.73. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90. The firm has a fifty day moving average price of $89.82 and a two-hundred day moving average price of $87.93. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.
ONEOK (NYSE:OKE – Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period last year, the firm posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts predict that ONEOK, Inc. will post 5.81 EPS for the current year.
ONEOK Announces Dividend
The firm 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. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.4%. ONEOK’s dividend payout ratio (DPR) is currently 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.
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