Corient Private Wealth LP Invests $18.78 Million in ONEOK, Inc. $OKE

Corient Private Wealth LP acquired a new stake in ONEOK, Inc. (NYSE:OKE – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 215,959 shares of the utilities provider’s stock, valued at approximately $18,779,000.

Several other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation National Association UT increased 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 purchasing an additional 143 shares during the period. Elyxium Wealth LLC acquired a new stake in shares of ONEOK during the fourth quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new position in shares of ONEOK in the fourth quarter valued at approximately $29,000. Portus Wealth Advisors LLC purchased a new position in shares of ONEOK in the first quarter valued at approximately $33,000. Finally, Wilkerson Advisory Group LLC grew its holdings in shares of ONEOK by 51.4% in 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 in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

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ONEOK Trading Up 0.2%

OKE opened at $94.88 on Friday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $97.90. The company has a market cap of $59.81 billion, a P/E ratio of 16.36, a PEG ratio of 2.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The business’s 50-day simple moving average is $90.89 and its 200-day simple moving average is $88.71.

ONEOK (NYSE:OKE – Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the previous year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Morgan Stanley raised their price target on shares of ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. upped their price objective on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, Barclays reduced their price objective on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.94.

Get Our Latest Stock Analysis on OKE

ONEOK Profile

(Free Report)

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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