USS Investment Management Ltd Has $11.78 Million Position in ONEOK, Inc. $OKE

USS Investment Management Ltd boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,274 shares of the utilities provider’s stock after buying an additional 18,239 shares during the quarter. USS Investment Management Ltd’s holdings in ONEOK were worth $11,775,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in OKE. Zions Bancorporation National Association UT increased its position in ONEOK by 73.3% in the 4th 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 position in shares of ONEOK during the fourth quarter worth $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK during the fourth quarter worth $29,000. SRH Advisors LLC grew its stake in shares of ONEOK by 122.3% in the fourth 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, Portus Wealth Advisors LLC acquired a new stake in ONEOK in the first quarter valued at $33,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on OKE shares. Wells Fargo & Company cut their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.88.

ONEOK Stock Performance

Shares of OKE opened at $85.59 on Thursday. The company has a market cap of $53.94 billion, a PE ratio of 15.26, a P/E/G ratio of 6.50 and a beta of 0.73. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The stock has a 50-day moving average of $88.49 and a 200-day moving average of $83.88. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

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

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s payout ratio is 76.29%.

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.