AlTi Global Inc. Raises Stake in ONEOK, Inc. $OKE

Key Points

• AlTi Global Inc. sharply increased its ONEOK position in the first quarter, boosting holdings by 1,805.9% to 79,973 shares worth about $7.1 million.
• Other institutional investors also added to or initiated stakes in ONEOK, and hedge funds and institutions now own 69.13% of the company.
• Analysts remain mixed but generally constructive: ONEOK has a Hold consensus rating with an average target price of $92.06, while the stock recently traded near $93.57 and offers a 4.6% dividend yield.

AlTi Global Inc. increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 1,805.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,973 shares of the utilities provider's stock after acquiring an additional 75,777 shares during the period. AlTi Global Inc.'s holdings in ONEOK were worth $7,078,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. Zions Bancorporation National Association UT increased its stake in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Portus Wealth Advisors LLC purchased a new stake in shares of ONEOK during the first quarter valued at approximately $33,000. Elyxium Wealth LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. raised its holdings in ONEOK by 46.0% in the 1st quarter. Meeder Asset Management Inc. now owns 400 shares of the utilities provider's stock worth $36,000 after acquiring an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. 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 report on Thursday, May 7th. Jefferies Financial Group increased their price objective on shares of ONEOK from $98.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. 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. Finally, Wall Street Zen raised shares of ONEOK from a "sell" rating to a "hold" rating in a report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $92.06.

ONEOK Trading Up 0.0%

ONEOK stock opened at $93.57 on Monday. 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 $89.18 and its 200-day moving average price is $85.38. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The stock has a market cap of $58.96 billion, a P/E ratio of 16.68, a PEG ratio of 6.99 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter in the prior year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's payout ratio is 76.29%.

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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