Cumberland Partners Ltd Makes New Investment in ONEOK, Inc. $OKE

Cumberland Partners Ltd acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 23,570 shares of the utilities provider’s stock, valued at approximately $1,732,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. Winnow Wealth LLC bought a new stake in shares of ONEOK in the 3rd quarter valued at approximately $28,000. Elyxium Wealth LLC bought a new stake in shares of ONEOK in the 4th quarter valued at approximately $29,000. SRH Advisors LLC increased its holdings in shares of ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares during the last quarter. AXS Investments LLC bought a new stake in shares of ONEOK in the 3rd quarter valued at approximately $35,000. Finally, Accredited Wealth Management LLC increased its holdings in shares of ONEOK by 342.5% in the 3rd quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 387 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKE has been the subject of a number of research analyst reports. Truist Financial boosted 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. Royal Bank Of Canada boosted their price target on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Thursday, March 19th. TD Cowen boosted their price target on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Citigroup boosted their price target on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $91.88.

ONEOK Price Performance

Shares of OKE opened at $93.98 on Friday. The company has a market cap of $59.21 billion, a P/E ratio of 16.75, a PEG ratio of 6.73 and a beta of 0.78. The stock has a fifty day moving average price of $88.54 and a 200 day moving average price of $80.48. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter in the previous year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.76 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio is presently 76.29%.

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.