Diamant Asset Management Inc. Takes Position in ONEOK, Inc. $OKE

Diamant Asset Management Inc. acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the first quarter, HoldingsChannel reports. The fund acquired 346,194 shares of the utilities provider’s stock, valued at approximately $34,619,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OKE. Zions Bancorporation National Association UT raised its stake in ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares during the last quarter. Elyxium Wealth LLC bought a new position in shares of ONEOK during the 4th quarter valued at $29,000. Cornerstone Financial Management LLC purchased a new position in shares of ONEOK in the 4th quarter worth $29,000. SRH Advisors LLC increased its position in ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares during the last quarter. Finally, Accredited Wealth Management LLC lifted its holdings in ONEOK by 342.5% in the third quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 387 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.4%

Shares of ONEOK stock opened at $89.18 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $88.32 and a 200-day moving average price of $83.55. The firm has a market cap of $56.20 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 6.67 and a beta of 0.74.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm 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 firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is 76.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Barclays upped their price objective on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Morgan Stanley raised their target price on ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, April 7th. Citigroup lifted their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada boosted their price target on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Thursday, March 19th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $91.88.

ONEOK 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.