Saudi Central Bank Boosts Stock Position in ONEOK, Inc. $OKE

Key Points

• Saudi Central Bank increased its ONEOK stake by 89.9% in the second quarter, acquiring 20,876 additional shares for a total holding valued at approximately $3.8 million. Institutional investors collectively own 69.13% of ONEOK.
• Analysts remain broadly cautious, with a consensus “Hold” rating and a $95.50 price target. Recent target increases from several firms place objectives as high as $106.
• ONEOK reported quarterly EPS of $1.53, exceeding expectations, and maintains a quarterly dividend of $1.07, equivalent to a 4.5% annualized yield.

Saudi Central Bank raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 89.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,102 shares of the utilities provider's stock after buying an additional 20,876 shares during the quarter. Saudi Central Bank's holdings in ONEOK were worth $3,834,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Swiss Life Asset Management Ltd raised its holdings in shares of ONEOK by 219.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock valued at $111,897,000 after buying an additional 1,045,976 shares in the last quarter. Castle Rock Wealth Management LLC grew its holdings in ONEOK by 360.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock worth $2,815,000 after acquiring an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after purchasing an additional 3,596,089 shares during the last quarter. Empowered Funds LLC lifted its stake in ONEOK by 21.8% in the second quarter. Empowered Funds LLC now owns 73,242 shares of the utilities provider's stock worth $6,368,000 after acquiring an additional 13,103 shares during the period. Finally, Matrix Trust Co purchased a new stake in shares of ONEOK in the 2nd quarter worth about $1,245,000. Institutional investors own 69.13% of the company's stock.

Wall Street Analyst Weigh In

OKE has been the topic of a number of research reports. Royal Bank Of Canada boosted their target price on shares of ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their price target on ONEOK from $95.00 to $106.00 and gave the company a "neutral" rating in a report on Tuesday, September 1st. Jefferies Financial Group raised their price objective on shares of ONEOK from $95.00 to $105.00 and gave the stock a "hold" rating in a report on Wednesday. US Capital Advisors lowered shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, August 20th. Finally, Wells Fargo & Company increased their price objective on shares of ONEOK from $98.00 to $106.00 and gave the company an "overweight" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $95.50.

ONEOK Stock Performance

ONEOK stock opened at $95.25 on Monday. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $99.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The firm has a market capitalization of $60.04 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 2.66 and a beta of 0.74. The company's 50-day moving average is $91.67 and its 200 day moving average is $89.13.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to analysts' expectations of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter in the previous year, the business earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts forecast that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK's dividend payout ratio (DPR) is currently 73.79%.

About ONEOK

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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