Corient Private Wealth LP Increases Stock Holdings in ONEOK, Inc. $OKE

Key Points

• Corient Private Wealth increased its ONEOK position by 6.1% in the second quarter, adding 11,533 shares to own 200,232 shares valued at approximately $17.4 million. Institutional investors collectively own 69.13% of the company.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $96.06, despite several brokerages raising their targets. ONEOK shares recently opened at $97.05.
• ONEOK reported quarterly EPS of $1.53, beating estimates of $1.46, while revenue reached $12.05 billion. The company pays an annualized dividend of $4.28 per share, representing a 4.4% yield.

Corient Private Wealth LP raised its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,232 shares of the utilities provider's stock after acquiring an additional 11,533 shares during the quarter. Corient Private Wealth LP's holdings in ONEOK were worth $17,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pin Oak Investment Advisors Inc. acquired a new position in shares of ONEOK in the second quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $29,000. Cornerstone Financial Management LLC purchased a new position in shares of ONEOK in the 4th quarter valued at about $29,000. Transamerica Financial Advisors LLC increased its position in shares of ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 149 shares during the last quarter. Finally, Portus Wealth Advisors LLC purchased a new position in ONEOK in the first quarter valued at $33,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKE. Truist Financial lifted their price target on shares of ONEOK from $93.00 to $104.00 and gave the stock a "hold" rating in a research note on Wednesday, September 2nd. Scotiabank increased their price objective on ONEOK from $89.00 to $95.00 and gave the company a "sector perform" rating in a report on Tuesday, September 1st. Wall Street Zen raised ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. UBS Group set a $93.00 price objective on shares of ONEOK in a research report on Friday. Finally, Weiss Ratings upgraded shares of ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $96.06.

ONEOK Stock Performance

Shares of OKE stock opened at $97.05 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The firm has a market capitalization of $61.17 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.74. ONEOK, Inc. has a one year low of $64.02 and a one year high of $99.85. The company has a 50 day moving average price of $92.75 and a 200 day moving average price of $89.56.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating 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 company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the business earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.74 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.4%. ONEOK's dividend payout ratio (DPR) is presently 73.79%.

About ONEOK

ONEOK, Inc NYSE: OKE is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company's services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.

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