Axxcess Wealth Management LLC Boosts Stake in ONEOK, Inc. $OKE

Axxcess Wealth Management LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 70.5% in the 1st quarter, Holdings Channel reports. The fund owned 19,314 shares of the utilities provider’s stock after acquiring an additional 7,985 shares during the period. Axxcess Wealth Management LLC’s holdings in ONEOK were worth $1,746,000 as of its most recent SEC filing.

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

ONEOK Stock Up 0.6%

OKE stock opened at $91.21 on Thursday. 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, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The firm has a fifty day moving average price of $88.73 and a two-hundred day moving average price of $84.46. The firm has a market cap of $57.47 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 6.78 and a beta of 0.73.

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). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. 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. Research analysts predict that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

Analysts Set New Price Targets

A number of analysts recently issued reports on OKE shares. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Truist Financial increased their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Barclays decreased their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday. Citigroup lifted their price target on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $91.75.

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.