ONEOK, Inc. $OKE Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lessened its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 16.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,889 shares of the utilities provider's stock after selling 21,223 shares during the quarter. Bank of Nova Scotia's holdings in ONEOK were worth $9,752,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in OKE. Zions Bancorporation National Association UT boosted its holdings in shares of ONEOK by 73.3% in the fourth 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 during the period. Elyxium Wealth LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK in the 4th quarter valued at $29,000. SRH Advisors LLC raised its position in ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 241 shares during the last quarter. Finally, Portus Wealth Advisors LLC purchased a new stake in ONEOK in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OKE shares. Citigroup raised their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Truist Financial increased their target price on shares of ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research note on Monday, May 4th. Morgan Stanley increased their target price on shares of ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 7th. Weiss Ratings upgraded ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. 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.com, ONEOK presently has an average rating of "Hold" and a consensus price target of $92.44.

ONEOK Stock Down 0.0%

Shares of ONEOK stock opened at $93.13 on Monday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The company has a market cap of $58.69 billion, a P/E ratio of 16.60, a PEG ratio of 5.01 and a beta of 0.73. 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 firm has a fifty day moving average of $89.48 and a two-hundred day moving average of $86.05.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts' expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. ONEOK's payout ratio is 76.29%.

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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