Cypress Capital Group grew its stake in shares of ONEOK, Inc. (NYSE:OKE – Free Report) by 721.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,406 shares of the utilities provider’s stock after purchasing an additional 26,706 shares during the quarter. Cypress Capital Group’s holdings in ONEOK were worth $2,748,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in OKE. Aberdeen Group plc grew its stake in ONEOK by 46.0% in the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock worth $70,388,000 after purchasing an additional 301,654 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in ONEOK by 219.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares during the period. Triune Financial Partners LLC bought a new stake in ONEOK during the 4th quarter valued at $1,151,000. Royal Fund Management LLC lifted its holdings in shares of ONEOK by 40.8% in the 4th quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock worth $5,907,000 after buying an additional 23,281 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after buying an additional 3,596,089 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on OKE shares. Royal Bank Of Canada increased their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Wells Fargo & Company decreased their price objective on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Truist Financial upped their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. raised their target price on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $92.44.
ONEOK Stock Down 0.1%
Shares of ONEOK stock opened at $93.13 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The company has a market cap of $58.69 billion, a P/E ratio of 16.60, a PEG ratio of 5.01 and a beta of 0.73. The firm’s 50 day moving average price is $89.48 and its 200-day moving average price is $85.96. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07.
ONEOK (NYSE:OKE – Get Free Report) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 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 net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the company earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts predict that ONEOK, Inc. will post 5.68 EPS for the current fiscal year.
ONEOK Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $1.07 dividend. 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 (DPR) is presently 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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