OMERS ADMINISTRATION Corp Invests $2.72 Million in ONEOK, Inc. $OKE

OMERS ADMINISTRATION Corp bought a new position in shares of ONEOK, Inc. (NYSE:OKE – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,262 shares of the utilities provider’s stock, valued at approximately $2,718,000.

Other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation National Association UT raised its holdings 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 acquiring an additional 143 shares in the last quarter. Portus Wealth Advisors LLC purchased a new position in shares of ONEOK during the first quarter worth about $33,000. Elyxium Wealth LLC purchased a new position in shares of ONEOK during the fourth quarter worth about $29,000. Wilkerson Advisory Group LLC increased its position 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 worth $35,000 after purchasing an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC purchased a new stake in ONEOK in the fourth quarter valued at approximately $29,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

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ONEOK Trading Down 1.4%

Shares of OKE opened at $91.74 on Wednesday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. The firm has a market cap of $57.83 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.59 and a beta of 0.73. The firm has a 50 day moving average price of $90.31 and a 200-day moving average price of $88.48. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

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

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 73.79%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Raymond James Financial restated an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a research report on Thursday, April 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Royal Bank Of Canada lifted their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. upped their price objective on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.94.

View Our Latest Stock Analysis on OKE

About ONEOK

(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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