Norris Financial Group LLC Buys Shares of 29,487 ONEOK, Inc. $OKE

Key Points

• Norris Financial Group initiated a position in ONEOK by purchasing 29,487 shares valued at approximately $2.67 million. Institutional investors collectively own 69.13% of the company, with several major firms increasing their stakes.
• ONEOK shares opened at $89.07, while the company’s latest quarterly earnings missed estimates despite revenue exceeding forecasts. The stock offers a quarterly dividend of $1.07, or $4.28 annually, representing a 4.8% yield.
• Analyst sentiment remains mixed: some firms raised price targets and earnings forecasts, citing stronger natural-gas demand and processing volumes, while Morgan Stanley and Scotiabank expressed concerns about ONEOK’s growth outlook. The stock carries a consensus “Hold” rating with an average target price of $91.81.

Norris Financial Group LLC bought a new position in ONEOK, Inc. (NYSE:OKE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 29,487 shares of the utilities provider's stock, valued at approximately $2,665,000.

Several other institutional investors have also modified their holdings of OKE. Vanguard Group Inc. raised its stake in ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock worth $5,703,845,000 after purchasing an additional 380,744 shares during the period. State Street Corp grew its stake in shares of ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock valued at $2,826,118,000 after buying an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock valued at $1,663,637,000 after buying an additional 599,248 shares during the period. Geode Capital Management LLC increased its holdings in shares of ONEOK by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock worth $1,215,107,000 after buying an additional 518,746 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

More ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: ONEOK’s earnings outlook received a boost from US Capital Advisors, which raised its EPS forecasts for the third quarter of 2026, each quarter of fiscal 2027, fiscal 2027 overall, and fiscal 2028. The firm now expects $6.12 in FY2027 EPS and $6.97 in FY2028, up from $6.03 and $6.88, respectively. MarketBeat ONEOK analyst estimates
• Positive Sentiment: Analysts expect rising natural-gas demand, stronger processing volumes and stable fee-based revenue to support ONEOK’s second-quarter performance. These factors could reinforce the company’s relatively predictable midstream cash flows ahead of its earnings release. ONEOK Gears Up to Report Q2 Earnings
• Neutral Sentiment: Wall Street’s pre-earnings analysis is focused on key operating metrics beyond revenue and EPS, including volumes, processing activity and fee-based contributions. The estimates set a higher bar for ONEOK’s report and could increase volatility if results or guidance diverge. Wall Street’s Insights Into Key Metrics Ahead of ONEOK Q2 Earnings
• Negative Sentiment: Morgan Stanley downgraded ONEOK because of concerns about the company’s growth profile, while expressing a preference for rival Targa Resources. The downgrade is the clearest near-term negative catalyst and may be encouraging investors to reassess ONEOK’s valuation and growth prospects. ONEOK Cut at Morgan Stanley on Growth Concerns

ONEOK Stock Down 1.0%

NYSE:OKE opened at $89.07 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The stock's fifty day moving average is $89.16 and its two-hundred day moving average is $86.55. The stock has a market capitalization of $56.13 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 4.87 and a beta of 0.73. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share 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 firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.65 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's payout ratio is currently 76.29%.

Analyst Upgrades and Downgrades

OKE has been the subject of several analyst reports. Scotiabank lowered ONEOK from a "sector outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Weiss Ratings raised ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 18th. Freedom Capital upgraded ONEOK from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 5th. Jefferies Financial Group raised their price objective on ONEOK from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. Finally, Citigroup boosted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $91.81.

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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