Summit Global Investments Has $1.21 Million Holdings in ONEOK, Inc. $OKE

Summit Global Investments increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 205.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,425 shares of the utilities provider’s stock after buying an additional 9,030 shares during the quarter. Summit Global Investments’ holdings in ONEOK were worth $1,214,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC grew its holdings in shares of ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the last quarter. Empowered Funds LLC increased its position in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Acadian Asset Management LLC bought a new position in ONEOK during the 1st quarter valued at about $216,000. Federated Hermes Inc. boosted its position in ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after buying an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in ONEOK by 3.9% in the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after buying an additional 4,902 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.8%

Shares of OKE opened at $91.84 on Wednesday. The firm has a market capitalization of $57.87 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 5.03 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The business’s fifty day moving average price is $89.36 and its two-hundred day moving average price is $85.65. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07.

ONEOK (NYSE:OKE) last released 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). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts predict that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. ONEOK’s dividend payout ratio is presently 76.29%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OKE shares. Wells Fargo & Company dropped their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Barclays decreased their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Truist Financial raised their price target on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Jefferies Financial Group lifted their price objective on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Eight equities research 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 stock has an average rating of “Hold” and an average target price of $92.44.

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.