Corient Private Wealth LP Makes New Investment in ONEOK, Inc. $OKE

Corient Private Wealth LP bought a new stake in ONEOK, Inc. (NYSE:OKE) in the second quarter, HoldingsChannel reports. The fund bought 215,959 shares of the utilities provider’s stock, valued at approximately $18,779,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after acquiring an additional 5,148,768 shares during the last quarter. State Street Corp raised its position in ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock valued at $2,826,118,000 after purchasing an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 during the last quarter. Geode Capital Management LLC boosted its stake in ONEOK by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after purchasing an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in 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 worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on OKE. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Barclays dropped 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. Finally, Freedom Capital raised ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.94.

ONEOK Stock Performance

Shares of OKE opened at $94.88 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90. The company has a 50-day simple moving average of $90.89 and a 200-day simple moving average of $88.71. The company has a market capitalization of $59.81 billion, a PE ratio of 16.36, a P/E/G ratio of 2.64 and a beta of 0.73.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the previous year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK’s payout ratio is 73.79%.

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.