Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,375,659 shares of the utilities provider’s stock after selling 69,916 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in ONEOK were worth $124,346,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT increased its position in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares during the last quarter. Elyxium Wealth LLC purchased a new stake in shares of ONEOK during the 4th quarter worth $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK during the fourth quarter worth $29,000. SRH Advisors LLC increased its holdings in ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares during the last quarter. Finally, Portus Wealth Advisors LLC purchased a new position in ONEOK in the first quarter valued at $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Morgan Stanley lifted their price target on ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Royal Bank Of Canada boosted their target price on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 19th. Truist Financial upped their price target on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $91.75.
ONEOK Stock Performance
Shares of ONEOK stock traded up $0.40 on Friday, hitting $89.90. The stock had a trading volume of 2,420,531 shares, compared to its average volume of 3,645,505. The stock has a market cap of $56.65 billion, a price-to-earnings ratio of 16.03, a P/E/G ratio of 6.69 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company’s 50 day moving average price is $88.73 and its 200 day moving average price is $84.63.
ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter in the prior year, the business earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current year.
ONEOK Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is 76.29%.
ONEOK Company 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.
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