Pinnacle West Asset Management Inc. acquired a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 21,093 shares of the utilities provider's stock, valued at approximately $1,834,000. ONEOK accounts for approximately 1.3% of Pinnacle West Asset Management Inc.'s investment portfolio, making the stock its 28th largest holding.
A number of other hedge funds have also modified their holdings of OKE. Zions Bancorporation National Association UT grew its position in 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 stake in shares of ONEOK in the 4th quarter valued at $29,000. Cornerstone Financial Management LLC bought a new stake in shares of ONEOK in the 4th quarter worth about $29,000. Portus Wealth Advisors LLC acquired a new stake in shares of ONEOK during the 1st quarter worth about $33,000. Finally, Wilkerson Advisory Group LLC increased its position in shares of ONEOK by 51.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock worth $35,000 after purchasing an additional 133 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have commented on OKE shares. US Capital Advisors lowered shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday. Wells Fargo & Company dropped their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating for the company in a report on Thursday, April 30th. Barclays cut their target price on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 8th. Truist Financial increased their price target on ONEOK from $91.00 to $93.00 and gave the stock a "hold" rating in a research report on Monday, May 4th. Finally, Scotiabank downgraded ONEOK from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $91.94.
Check Out Our Latest Stock Analysis on ONEOK
ONEOK Price Performance
ONEOK stock opened at $93.43 on Friday. The business's 50-day simple moving average is $90.09 and its 200 day simple moving average is $88.20. The stock has a market cap of $58.90 billion, a price-to-earnings ratio of 16.11, 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 quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34.
ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping 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 firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period last year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current year.
ONEOK Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. ONEOK's payout ratio is currently 73.79%.
Key Stories Impacting ONEOK
Here are the key news stories impacting ONEOK this week:
- Positive Sentiment: US Capital Advisors raised its EPS forecasts across multiple periods, including Q3 2026 to $1.56 from $1.45, FY2026 to $5.90 from $5.67, FY2027 to $6.36 from $6.12, and FY2028 to $7.22 from $6.97. The firm’s FY2026 estimate is above the $5.82 analyst consensus, suggesting stronger expected operating performance. MarketBeat ONEOK analyst estimates
- Positive Sentiment: The revisions also lifted forecasts for Q1 through Q4 2027, indicating that US Capital Advisors expects ONEOK’s earnings growth to continue beyond 2026.
- Positive Sentiment: Recent commentary describes ONEOK as a high-yield pipeline stock whose ongoing strength may be underestimated by investors, supporting the long-term income and growth narrative. High-Yield Pipeline Stock Investors Keep Underestimating
- Neutral Sentiment: Analysts maintain a consensus “Moderate Buy” rating for OKE, while Morgan Stanley has indicated that the stock could rise. These views provide support but do not represent new company-specific operating results. ONEOK Consensus Rating Morgan Stanley ONEOK Price Outlook
- Negative Sentiment: US Capital Advisors downgraded ONEOK from “Strong Buy” to “Moderate Buy.” Although the firm raised its earnings estimates, the less-optimistic rating may be pressuring the stock today, particularly after OKE’s recent strong run toward its 52-week high. Zacks ONEOK rating update
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.
Featured Stories
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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