ONEOK (NYSE:OKE) Sets New 1-Year High – Here’s What Happened

ONEOK, Inc. (NYSE:OKE)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $95.59 and last traded at $95.1530, with a volume of 2441720 shares traded. The stock had previously closed at $93.76.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OKE. Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. Jefferies Financial Group increased their price target on shares of ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. TD Cowen increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Finally, Citigroup increased their price target on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.88.

ONEOK Trading Up 1.5%

The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The company has a 50-day simple moving average of $87.93 and a 200 day simple moving average of $79.83. The firm has a market cap of $59.95 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 6.71 and a beta of 0.78.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.76 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s dividend payout ratio (DPR) is 76.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its holdings in ONEOK by 5.2% in the 1st quarter. Bank of America Corp DE now owns 5,504,989 shares of the utilities provider’s stock valued at $497,596,000 after purchasing an additional 272,704 shares in the last quarter. Systematic Alpha Investments LLC purchased a new position in ONEOK in the 1st quarter valued at $200,000. Janus Henderson Group PLC lifted its holdings in ONEOK by 5.8% in the 1st quarter. Janus Henderson Group PLC now owns 3,830,346 shares of the utilities provider’s stock valued at $346,225,000 after purchasing an additional 209,806 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in ONEOK by 38.7% in the 1st quarter. Arkadios Wealth Advisors now owns 31,209 shares of the utilities provider’s stock valued at $2,821,000 after purchasing an additional 8,707 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its holdings in ONEOK by 173.3% in the 1st quarter. Arete Wealth Advisors LLC now owns 54,666 shares of the utilities provider’s stock valued at $4,936,000 after purchasing an additional 34,665 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

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.