Wealthfront Advisers LLC Grows Stock Position in ONEOK, Inc. $OKE

Wealthfront Advisers LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 117.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 213,118 shares of the utilities provider’s stock after acquiring an additional 114,987 shares during the period. Wealthfront Advisers LLC’s holdings in ONEOK were worth $18,528,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Meridian Wealth Management LLC increased its stake in ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock worth $574,000 after purchasing an additional 115 shares during the period. Clearstead Trust LLC boosted its stake in shares of ONEOK by 4.7% during the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after purchasing an additional 117 shares during the period. Hoxton Planning & Management LLC increased its stake in shares of ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after buying an additional 120 shares during the period. Welch Group LLC increased its stake in shares of ONEOK by 0.8% in the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after buying an additional 122 shares during the period. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in ONEOK by 0.5% during the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock valued at $2,374,000 after buying an additional 122 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $97.58 on Wednesday. The stock has a market cap of $61.51 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 7.10 and a beta of 0.73. The firm’s fifty day simple moving average is $89.82 and its 200 day simple moving average is $87.93. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $97.90. 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 (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts predict that ONEOK, Inc. will post 5.81 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. ONEOK’s payout ratio is currently 73.79%.

Analyst Ratings Changes

Several equities research analysts have weighed in on OKE shares. Citigroup increased their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their price target on ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.94.

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.