ONEOK, Inc. $OKE Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.6% during the 1st quarter, Holdings Channel reports. The firm owned 98,131 shares of the utilities provider’s stock after buying an additional 8,632 shares during the quarter. Wealthfront Advisers LLC’s holdings in ONEOK were worth $8,870,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of OKE. Vanguard Group Inc. raised its stake in shares of ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after purchasing an additional 380,744 shares during the last quarter. State Street Corp boosted its position in ONEOK by 1.7% in the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock valued at $2,826,118,000 after buying an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock valued at $1,663,637,000 after buying an additional 599,248 shares during the last quarter. Geode Capital Management LLC boosted its position in ONEOK by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after buying an additional 518,746 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after buying an additional 3,596,089 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the subject of a number of recent research reports. Barclays reduced their price target on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Morgan Stanley upped their price objective on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Finally, TD Cowen boosted their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $92.06.

ONEOK Stock Up 0.6%

ONEOK stock opened at $93.57 on Friday. The business’s 50-day moving average price is $89.18 and its 200 day moving average price is $85.30. 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 firm has a market cap of $58.96 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 6.95 and a beta of 0.73. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous 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, sell-side analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is 76.29%.

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.