Frank Rimerman Advisors LLC Acquires New Stake in ONEOK, Inc. $OKE

Frank Rimerman Advisors LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 13,405 shares of the utilities provider’s stock, valued at approximately $985,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OKE. Brighton Jones LLC increased its stake in ONEOK by 137.1% during the fourth 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 period. Empowered Funds LLC boosted its stake 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 valued at $1,782,000 after purchasing an additional 137 shares during the period. Acadian Asset Management LLC purchased a new position in shares of ONEOK in the first quarter valued at approximately $216,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ONEOK by 13.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 65,424 shares of the utilities provider’s stock valued at $5,341,000 after purchasing an additional 7,993 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in ONEOK by 5.0% during the 2nd quarter. Mackenzie Financial Corp now owns 103,813 shares of the utilities provider’s stock worth $8,474,000 after buying an additional 4,958 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

NYSE:OKE opened at $87.40 on Thursday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $100.57. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56. The firm has a market capitalization of $55.04 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 6.86 and a beta of 0.84. The business’s fifty day moving average price is $84.83 and its 200 day moving average price is $76.21.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same quarter in the previous year, the business earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.9%. ONEOK’s payout ratio is 78.97%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. Jefferies Financial Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $98.00 in a report on Friday, March 20th. Royal Bank Of Canada upped their price objective on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Thursday, March 19th. Truist Financial initiated coverage on ONEOK in a research note on Tuesday, March 24th. They issued a “hold” rating and a $91.00 price objective on the stock. Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.94.

ONEOK 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.