Bank of Nova Scotia Acquires New Position in ONEOK, Inc. $OKE

Bank of Nova Scotia bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 100,730 shares of the utilities provider's stock, valued at approximately $8,757,000.

A number of other large investors also recently made changes to their positions in OKE. Vanguard Group Inc. boosted its holdings in shares of ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock valued at $5,703,845,000 after buying an additional 380,744 shares during the period. BlackRock Inc. boosted its position in shares of ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock worth $5,610,887,000 after buying an additional 5,148,768 shares during the period. State Street Corp boosted its position in ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock worth $2,826,118,000 after acquiring an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock worth $1,663,637,000 after acquiring an additional 599,248 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ONEOK by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock valued at $1,215,107,000 after purchasing an additional 518,746 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OKE. Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Wells Fargo & Company lowered their target price on ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Wall Street Zen upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Finally, Morgan Stanley raised their price target on ONEOK from $103.00 to $105.00 and gave the company an "equal weight" rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $91.94.

ONEOK Trading Down 0.3%

Shares of ONEOK stock opened at $93.06 on Tuesday. The firm has a 50-day moving average of $90.20 and a 200-day moving average of $88.40. The stock has a market cap of $58.66 billion, a PE ratio of 16.05, a PEG ratio of 2.60 and a beta of 0.73. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90. 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 quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.6%. ONEOK's payout ratio is currently 73.79%.

ONEOK Company 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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