Glenview Trust Co bought a new stake 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 (SEC). The firm bought 34,238 shares of the utilities provider's stock, valued at approximately $3,095,000.
A number of other hedge funds have also recently made changes to their positions in OKE. Capital International Investors purchased a new stake in shares of ONEOK in the 4th quarter worth approximately $586,500,000. Norges Bank bought a new stake in ONEOK in the fourth quarter worth $564,867,000. BlackRock Inc. boosted its holdings in ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock worth $5,610,887,000 after acquiring an additional 5,148,768 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of ONEOK in the second quarter worth $389,985,000. Finally, Kayne Anderson Capital Advisors LP purchased a new position in shares of ONEOK in the 2nd quarter worth about $335,958,000. 69.13% of the stock is owned by institutional investors.
ONEOK Stock Performance
NYSE:OKE opened at $94.88 on Friday. The stock has a 50-day moving average price of $90.89 and a 200 day moving average price of $88.71. The stock has a market capitalization of $59.81 billion, a P/E ratio of 16.36, a P/E/G ratio of 2.64 and a beta of 0.73. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month 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 announced its quarterly 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 business had revenue of $12.05 billion for the quarter, compared to analysts' expectations of $8.95 billion. During the same quarter in the previous year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.
ONEOK Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. ONEOK's payout ratio is presently 73.79%.
Analysts Set New Price Targets
OKE has been the topic of several recent analyst reports. US Capital Advisors downgraded shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, August 20th. Royal Bank Of Canada upped their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. Barclays cut their price target on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 8th. Citigroup boosted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Finally, Truist Financial upped their price objective on ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.94.
Read Our Latest Stock Report on OKE
About ONEOK
(
Free Report)
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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