Pictet Asset Management Holding SA Reduces Holdings in ONEOK, Inc. $OKE

Pictet Asset Management Holding SA lowered its position in ONEOK, Inc. (NYSE:OKE) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,261 shares of the utilities provider’s stock after selling 34,789 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of ONEOK worth $31,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT lifted its stake in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Elyxium Wealth LLC purchased a new position in ONEOK in the fourth quarter valued at about $29,000. Cornerstone Financial Management LLC acquired a new stake in ONEOK during the 4th quarter valued at approximately $29,000. SRH Advisors LLC increased its holdings in ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 241 shares during the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in ONEOK during the 4th quarter worth approximately $37,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on OKE shares. JPMorgan Chase & Co. increased their target price on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, TD Cowen boosted their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.88.

ONEOK Price Performance

Shares of OKE opened at $87.02 on Wednesday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. 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 firm has a market cap of $54.84 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 6.64 and a beta of 0.74. The stock has a 50 day moving average of $88.46 and a 200-day moving average of $83.80.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period last year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 annualized dividend and a yield of 4.9%. ONEOK’s payout ratio is presently 76.29%.

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.