Fifth Third Bancorp Boosts Position in ONEOK, Inc. $OKE

Key Points

• Fifth Third Bancorp sharply increased its stake in ONEOK, boosting holdings by 646.2% in Q1 to 166,487 shares worth about $15.0 million. Several other institutional investors also added to or adjusted positions, and hedge funds now own 69.13% of the stock.
• ONEOK shares were trading near recent highs, opening at $91.97 with a 52-week range of $64.02 to $96.07. The company currently has a market cap of about $57.96 billion and a dividend yield of 4.7%.
• Recent earnings and analyst views were mixed: ONEOK reported $1.23 EPS, below the $1.30 estimate, though revenue topped expectations at $9.62 billion. Analysts currently rate the stock a consensus Hold, with an average price target of $91.75.

Fifth Third Bancorp boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 646.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,487 shares of the utilities provider's stock after purchasing an additional 144,175 shares during the quarter. Fifth Third Bancorp's holdings in ONEOK were worth $15,049,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Sovran Advisors LLC boosted its holdings in shares of ONEOK by 6.5% in the 1st quarter. Sovran Advisors LLC now owns 2,952 shares of the utilities provider's stock valued at $273,000 after buying an additional 180 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in ONEOK during the 1st quarter worth $292,000. Candriam S.C.A. lifted its position in ONEOK by 13.9% in the first quarter. Candriam S.C.A. now owns 70,947 shares of the utilities provider's stock valued at $6,413,000 after acquiring an additional 8,654 shares during the last quarter. Barnett & Company Inc. lifted its position in ONEOK by 1.8% in the first quarter. Barnett & Company Inc. now owns 53,466 shares of the utilities provider's stock valued at $4,833,000 after acquiring an additional 950 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in ONEOK by 1.0% in the first quarter. Sequoia Financial Advisors LLC now owns 212,473 shares of the utilities provider's stock valued at $19,205,000 after acquiring an additional 2,116 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Down 0.2%

Shares of ONEOK stock opened at $91.97 on Wednesday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The company has a market capitalization of $57.96 billion, a P/E ratio of 16.39, a PEG ratio of 6.89 and a beta of 0.73. The company's fifty day moving average is $88.76 and its two-hundred day moving average is $84.97.

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

ONEOK Announces Dividend

The business also recently declared 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 yield of 4.7%. The ex-dividend date was Monday, May 4th. ONEOK's payout ratio is 76.29%.

Analyst Ratings Changes

OKE has been the topic of several research reports. Scotiabank lowered ONEOK from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. JPMorgan Chase & Co. boosted their target price on ONEOK from $91.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Royal Bank Of Canada upped their target price on ONEOK from $79.00 to $84.00 and gave the company a "sector perform" rating in a research report on Thursday, March 19th. Freedom Capital upgraded ONEOK from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 5th. Finally, Citigroup lifted their price target on ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $91.75.

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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