Bollard Group LLC Lowers Stake in ONEOK, Inc. $OKE

Key Points

• Bollard Group LLC cut its ONEOK stake by 30.6% in the fourth quarter, selling 276,089 shares and leaving it with 627,215 shares worth about $46.1 million. ONEOK now represents roughly 1.2% of Bollard’s portfolio.
• Analysts are mixed on ONEOK, with recent rating changes including a Scotiabank downgrade and upgrades/price-target increases from firms like Jefferies and JPMorgan. Overall, the stock carries a consensus rating of Hold and an average target price of $91.88.
• ONEOK reported solid revenue but missed EPS expectations in its latest quarter, posting $1.23 per share versus the expected $1.30 while revenue came in at $9.62 billion. The company also pays a 4.7% dividend yield, with a quarterly dividend of $1.07 per share.

Bollard Group LLC reduced its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 30.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 627,215 shares of the utilities provider's stock after selling 276,089 shares during the quarter. ONEOK makes up approximately 1.2% of Bollard Group LLC's investment portfolio, making the stock its 11th largest position. Bollard Group LLC owned approximately 0.10% of ONEOK worth $46,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of ONEOK by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock valued at $5,703,845,000 after purchasing an additional 380,744 shares in the last quarter. State Street Corp raised its holdings in shares of ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock valued at $2,826,118,000 after purchasing an additional 648,647 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock valued at $1,663,637,000 after purchasing an additional 599,248 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of ONEOK by 3.2% in the 4th 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 in the last quarter. Finally, First Eagle Investment Management LLC raised its holdings 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 valued at $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Scotiabank lowered shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Wall Street Zen upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Tuesday, May 26th. Jefferies Financial Group boosted their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, April 8th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Finally, Raymond James Financial reissued an "outperform" rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of "Hold" and a consensus target price of $91.88.

ONEOK Stock Performance

Shares of ONEOK stock opened at $90.40 on Friday. The firm has a market capitalization of $56.95 billion, a P/E ratio of 16.11, a PEG ratio of 6.77 and a beta of 0.74. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The company has a 50 day moving average price of $88.31 and a 200 day moving average price of $82.58. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK's dividend payout ratio (DPR) is presently 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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