Corient Private Wealth LP Acquires 23,775 Shares of ONEOK, Inc. $OKE

Key Points

• Corient Private Wealth increased its ONEOK stake by 12.6% in the second quarter, purchasing 23,775 additional shares and bringing its holdings to 212,474 shares valued at approximately $18.5 million. Institutional investors own 69.13% of the company.
• ONEOK reported quarterly earnings of $1.53 per share, exceeding the $1.46 consensus estimate, while revenue reached $12.05 billion. The company maintains a $1.07 quarterly dividend, equivalent to a 4.5% annual yield.
• Analysts collectively rate ONEOK a “Moderate Buy”, with one Strong Buy, eight Buy, and nine Hold ratings; the average price target is $91.94, below the stock’s reported $94.88 opening price.

Corient Private Wealth LP increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 12.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,474 shares of the utilities provider's stock after purchasing an additional 23,775 shares during the period. Corient Private Wealth LP's holdings in ONEOK were worth $18,476,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OKE. Zions Bancorporation National Association UT grew its position in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after buying an additional 143 shares during the period. Elyxium Wealth LLC bought a new stake in shares of ONEOK in the 4th quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK during the 4th quarter valued at $29,000. Portus Wealth Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter valued at $33,000. Finally, Wilkerson Advisory Group LLC boosted its stake in ONEOK by 51.4% during the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock worth $35,000 after acquiring an additional 133 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 0.2%

ONEOK stock opened at $94.88 on Friday. The firm has a market capitalization of $59.81 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.73. The firm's fifty day moving average price is $90.89 and its two-hundred day moving average price is $88.71. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90. The company has a current ratio of 0.74, a quick ratio of 0.59 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, topping the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal 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 dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's payout ratio is currently 73.79%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKE. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of ONEOK in a research note on Thursday, August 13th. Freedom Capital raised shares of ONEOK from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 5th. Barclays reduced their target price on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. Truist Financial upped their price target on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. increased their price target on ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.94.

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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