Norris Financial Group LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE – Free Report) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 29,487 shares of the utilities provider’s stock, valued at approximately $2,665,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Zions Bancorporation National Association UT raised its holdings in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Elyxium Wealth LLC acquired a new position in ONEOK during the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC purchased a new stake in shares of ONEOK in the 4th quarter valued at approximately $29,000. SRH Advisors LLC raised its holdings in shares of ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC purchased a new stake in shares of ONEOK during the 1st quarter worth $33,000. 69.13% of the stock is owned by institutional investors and hedge funds.
ONEOK Stock Performance
NYSE OKE opened at $89.07 on Friday. The company has a fifty day moving average of $89.16 and a two-hundred day moving average of $86.55. The company has a market capitalization of $56.13 billion, a PE ratio of 15.88, a P/E/G ratio of 4.87 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 company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.
ONEOK Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.8%. ONEOK’s payout ratio is 76.29%.
Analyst Upgrades and Downgrades
Several research firms recently commented on OKE. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Wells Fargo & Company lowered their price objective on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Barclays dropped their price objective on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. TD Cowen raised their target price on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group upped their price target on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus target price of $91.81.
Check Out Our Latest Analysis on ONEOK
ONEOK News Roundup
Here are the key news stories impacting ONEOK this week:
- Positive Sentiment: ONEOK’s earnings outlook received a boost from US Capital Advisors, which raised its EPS forecasts for the third quarter of 2026, each quarter of fiscal 2027, fiscal 2027 overall, and fiscal 2028. The firm now expects $6.12 in FY2027 EPS and $6.97 in FY2028, up from $6.03 and $6.88, respectively. MarketBeat ONEOK analyst estimates
- Positive Sentiment: Analysts expect rising natural-gas demand, stronger processing volumes and stable fee-based revenue to support ONEOK’s second-quarter performance. These factors could reinforce the company’s relatively predictable midstream cash flows ahead of its earnings release. ONEOK Gears Up to Report Q2 Earnings
- Neutral Sentiment: Wall Street’s pre-earnings analysis is focused on key operating metrics beyond revenue and EPS, including volumes, processing activity and fee-based contributions. The estimates set a higher bar for ONEOK’s report and could increase volatility if results or guidance diverge. Wall Street’s Insights Into Key Metrics Ahead of ONEOK Q2 Earnings
- Negative Sentiment: Morgan Stanley downgraded ONEOK because of concerns about the company’s growth profile, while expressing a preference for rival Targa Resources. The downgrade is the clearest near-term negative catalyst and may be encouraging investors to reassess ONEOK’s valuation and growth prospects. ONEOK Cut at Morgan Stanley on Growth Concerns
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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