Matrix Trust Co Makes New $1.25 Million Investment in ONEOK, Inc. $OKE

Key Points

• Matrix Trust Co. bought a new $1.25 million stake in ONEOK, acquiring 14,321 shares during the second quarter. Institutional investors collectively own 69.13% of the company.
• Analysts maintain a generally positive outlook, with ONEOK carrying a consensus “Moderate Buy” rating and an average price target of $91.81, despite some recent target reductions and a downgrade.
• ONEOK exceeded quarterly earnings expectations, reporting $1.53 in EPS versus $1.46 expected, and declared a quarterly dividend of $1.07, equivalent to a 5.0% annualized yield.

Matrix Trust Co bought a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,321 shares of the utilities provider's stock, valued at approximately $1,245,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Zions Bancorporation National Association UT boosted its position in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Portus Wealth Advisors LLC bought a new position in shares of ONEOK in the 1st quarter worth approximately $33,000. Elyxium Wealth LLC bought a new position in shares of ONEOK in the 4th quarter worth approximately $29,000. Wilkerson Advisory Group LLC lifted its stake in shares of ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 133 shares during the period. Finally, Cornerstone Financial Management LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OKE. Citigroup upped their price target on ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. TD Cowen raised their price objective on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Truist Financial boosted their target price on shares of ONEOK from $91.00 to $93.00 and gave the company a "hold" rating in a report on Monday, May 4th. Scotiabank downgraded shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $103.00 price target (down from $113.00) on shares of ONEOK in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.81.

ONEOK Stock Performance

ONEOK stock opened at $86.33 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $54.42 billion, a P/E ratio of 14.89, a PEG ratio of 4.50 and a beta of 0.73. The stock's 50 day moving average is $88.95 and its 200 day moving average is $87.13. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's payout ratio is currently 73.79%.

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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