Bank of New York Mellon Corp Grows Stake in ONEOK, Inc. $OKE

Key Points

• Bank of New York Mellon increased its ONEOK stake by 2.2% in the second quarter, adding 99,034 shares to own 4.68 million shares valued at approximately $406.8 million. Institutional investors collectively hold 69.13% of the company.
• ONEOK reported quarterly EPS of $1.53, exceeding the $1.46 consensus estimate, while revenue reached $12.05 billion. The company pays a quarterly dividend of $1.07 per share, equating to a 4.6% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $91.94 versus the stock’s reported $93.43 price; recent targets and ratings have been mixed.

Bank of New York Mellon Corp grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,678,654 shares of the utilities provider's stock after buying an additional 99,034 shares during the period. Bank of New York Mellon Corp owned 0.74% of ONEOK worth $406,762,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ABN AMRO Bank N.V. purchased a new position in ONEOK during the 2nd quarter valued at about $468,000. Kelleher Financial Advisors boosted its position in shares of ONEOK by 9.0% in the 2nd quarter. Kelleher Financial Advisors now owns 1,558 shares of the utilities provider's stock worth $135,000 after purchasing an additional 128 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of ONEOK in the 2nd quarter worth approximately $351,000. Stuart Investment Advisors Inc. bought a new position in ONEOK during the 2nd quarter valued at approximately $248,000. Finally, Meridian Wealth Management LLC raised its stake in ONEOK by 1.8% during the second quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider's stock valued at $574,000 after buying an additional 115 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Down 1.2%

Shares of OKE stock opened at $93.43 on Friday. The company's fifty day simple moving average is $90.09 and its two-hundred day simple moving average is $88.20. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $97.90. The stock has a market cap of $58.90 billion, a P/E ratio of 16.11, a PEG ratio of 2.64 and a beta of 0.73. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors 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 4.6%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is currently 73.79%.

Analyst Ratings Changes

Several research firms have recently issued reports on OKE. Barclays lowered their price target on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Weiss Ratings restated a "buy (b-)" rating on shares of ONEOK in a research note on Thursday, August 13th. Scotiabank cut shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Royal Bank Of Canada upped their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company cut their price target on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.94.

Key ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: US Capital Advisors raised its EPS forecasts across multiple periods, including Q3 2026 to $1.56 from $1.45, FY2026 to $5.90 from $5.67, FY2027 to $6.36 from $6.12, and FY2028 to $7.22 from $6.97. The firm’s FY2026 estimate is above the $5.82 analyst consensus, suggesting stronger expected operating performance. MarketBeat ONEOK analyst estimates
• Positive Sentiment: The revisions also lifted forecasts for Q1 through Q4 2027, indicating that US Capital Advisors expects ONEOK’s earnings growth to continue beyond 2026.
• Positive Sentiment: Recent commentary describes ONEOK as a high-yield pipeline stock whose ongoing strength may be underestimated by investors, supporting the long-term income and growth narrative. High-Yield Pipeline Stock Investors Keep Underestimating
• Neutral Sentiment: Analysts maintain a consensus “Moderate Buy” rating for OKE, while Morgan Stanley has indicated that the stock could rise. These views provide support but do not represent new company-specific operating results. ONEOK Consensus Rating Morgan Stanley ONEOK Price Outlook
• Negative Sentiment: US Capital Advisors downgraded ONEOK from “Strong Buy” to “Moderate Buy.” Although the firm raised its earnings estimates, the less-optimistic rating may be pressuring the stock today, particularly after OKE’s recent strong run toward its 52-week high. Zacks ONEOK rating update

ONEOK 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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