Oakmont Investment Advisors Inc. Makes New $1.52 Million Investment in ONEOK, Inc. $OKE

Oakmont Investment Advisors Inc. bought a new stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, HoldingsChannel.com reports. The firm bought 17,530 shares of the utilities provider’s stock, valued at approximately $1,524,000. ONEOK accounts for approximately 1.1% of Oakmont Investment Advisors Inc.’s portfolio, making the stock its 27th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of ONEOK in the first quarter worth about $216,000. Federated Hermes Inc. boosted its stake in shares of ONEOK by 14.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on OKE shares. Citigroup upped their price objective on shares of ONEOK from $97.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Truist Financial boosted their target price on shares of ONEOK from $93.00 to $104.00 and gave the stock a “hold” rating in a research note on Wednesday. Barclays lowered their price target on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Finally, Wells Fargo & Company raised their price objective on ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.50.

ONEOK Stock Down 0.5%

NYSE:OKE opened at $95.25 on Friday. The firm’s 50 day simple moving average is $91.67 and its 200 day simple moving average is $89.11. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. ONEOK, Inc. has a one year low of $64.02 and a one year high of $99.85. The company has a market cap of $60.04 billion, a PE ratio of 16.42, a P/E/G ratio of 2.67 and a beta of 0.74.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the prior year, the company posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio is presently 73.79%.

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.