Allworth Financial LP Takes $11.57 Million Position in ONEOK, Inc. $OKE

Allworth Financial LP acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 133,142 shares of the utilities provider's stock, valued at approximately $11,575,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Triune Financial Partners LLC bought a new position in shares of ONEOK in the 4th quarter worth about $1,151,000. Swiss Life Asset Management Ltd increased its stake in shares of ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock valued at $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Castle Rock Wealth Management LLC lifted its holdings in shares of ONEOK by 360.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock valued at $2,815,000 after purchasing an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC boosted its position 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 purchasing an additional 3,596,089 shares in the last quarter. Finally, Torray Investment Partners LLC bought a new stake in shares of ONEOK in the 4th quarter worth approximately $19,109,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 1.4%

ONEOK stock opened at $94.69 on Friday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90. The stock has a fifty day simple moving average of $90.03 and a two-hundred day simple moving average of $88.16. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The firm has a market cap of $59.69 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.69 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same period in the prior year, the company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities analysts predict that ONEOK, Inc. will post 5.82 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK's payout ratio is currently 73.79%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKE. Scotiabank lowered ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Wall Street Zen raised ONEOK from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Royal Bank Of Canada raised their price target on ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ONEOK in a research report on Thursday, August 13th. Finally, Citigroup upped their price target on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, ONEOK has a consensus rating of "Moderate Buy" and an average target price of $91.94.

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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