ONEOK, Inc. $OKE Stake Raised by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management increased its ONEOK stake by 5.9% in the second quarter to 1.21 million shares valued at approximately $105.3 million. Institutional investors collectively own 69.13% of the company.
• Analysts raised several ONEOK price targets, including Wells Fargo’s increase to $106 and Jefferies’ to $105, but the consensus rating remains “Hold” with an average target of $96.88.
• ONEOK reported quarterly EPS of $1.53, beating estimates of $1.46, and generated $12.05 billion in revenue. The company pays a quarterly dividend of $1.07 per share, equivalent to a 4.8% annual yield.

Envestnet Asset Management Inc. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,211,333 shares of the utilities provider's stock after buying an additional 67,363 shares during the quarter. Envestnet Asset Management Inc. owned 0.19% of ONEOK worth $105,313,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp increased its stake in shares of ONEOK by 5.0% during the second quarter. State Street Corp now owns 43,633,749 shares of the utilities provider's stock worth $3,793,518,000 after buying an additional 2,059,368 shares during the period. Security National Bank of Sioux City Iowa IA acquired a new position in ONEOK during the 2nd quarter worth approximately $57,000. Talon Private Wealth LLC increased its position in shares of ONEOK by 27.7% in the 2nd quarter. Talon Private Wealth LLC now owns 25,136 shares of the utilities provider's stock valued at $2,185,000 after purchasing an additional 5,455 shares during the last quarter. Core Capital Management & Research inc. acquired a new stake in shares of ONEOK in the 2nd quarter valued at $309,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of ONEOK by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 798,176 shares of the utilities provider's stock worth $69,393,000 after purchasing an additional 15,796 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on OKE. Jefferies Financial Group increased their target price on ONEOK from $95.00 to $105.00 and gave the company a "hold" rating in a report on Wednesday, September 2nd. US Capital Advisors downgraded ONEOK from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, August 20th. Barclays lowered their price objective on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Wells Fargo & Company raised their target price on ONEOK from $98.00 to $106.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. Finally, Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, ONEOK presently has an average rating of "Hold" and an average price target of $96.88.

ONEOK Stock Down 2.8%

Shares of NYSE:OKE opened at $88.66 on Friday. The stock has a market cap of $55.89 billion, a P/E ratio of 15.29, a P/E/G ratio of 2.59 and a beta of 0.74. The firm has a fifty day moving average price of $92.82 and a 200 day moving average price of $89.98. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $99.85.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the business posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.73 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is presently 73.79%.

ONEOK Profile

ONEOK, Inc NYSE: OKE is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company's services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.

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