Glenview Trust Co lifted its position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 30.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 34,238 shares of the utilities provider’s stock after acquiring an additional 7,924 shares during the period. Glenview Trust Co’s holdings in ONEOK were worth $3,095,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Summit Global Investments increased its stake in shares of ONEOK by 205.5% in the first quarter. Summit Global Investments now owns 13,425 shares of the utilities provider’s stock valued at $1,214,000 after purchasing an additional 9,030 shares during the period. Alta Advisers Ltd bought a new position in ONEOK in the 1st quarter worth approximately $218,000. AlTi Global Inc. grew its holdings in ONEOK by 1,805.9% in the 1st quarter. AlTi Global Inc. now owns 79,973 shares of the utilities provider’s stock worth $7,078,000 after buying an additional 75,777 shares in the last quarter. Meeder Asset Management Inc. increased its position in ONEOK by 46.0% in the 1st quarter. Meeder Asset Management Inc. now owns 400 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 126 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in ONEOK by 16.8% during the 1st quarter. Meeder Advisory Services Inc. now owns 9,579 shares of the utilities provider’s stock valued at $866,000 after acquiring an additional 1,381 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on OKE shares. Citigroup increased their price target on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley boosted their price target on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. TD Cowen boosted their target price on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Finally, Jefferies Financial Group upped their target price on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $92.44.
ONEOK Trading Down 1.8%
ONEOK stock opened at $91.84 on Wednesday. The firm has a market cap of $57.87 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The firm’s 50 day moving average price is $89.36 and its two-hundred day moving average price is $85.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.
ONEOK (NYSE:OKE – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.68 EPS for the current fiscal year.
ONEOK Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio is 76.29%.
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.
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