Lewis Asset Management LLC Invests $926,000 in ONEOK, Inc. $OKE

Lewis Asset Management LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 1st quarter, HoldingsChannel.com reports. The firm bought 10,250 shares of the utilities provider’s stock, valued at approximately $926,000.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT lifted its position in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Elyxium Wealth LLC purchased a new position in shares of ONEOK during the fourth quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new position in shares of ONEOK during the fourth quarter worth about $29,000. SRH Advisors LLC increased its position in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 241 shares in the last quarter. Finally, Accredited Wealth Management LLC increased its position in shares of ONEOK by 342.5% during the third quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 387 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on OKE shares. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Truist Financial increased their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. TD Cowen raised their target price on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Finally, Wells Fargo & Company reduced their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus price target of $91.88.

ONEOK Trading Down 0.4%

Shares of ONEOK stock opened at $89.18 on Friday. The firm has a market cap of $56.20 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 6.69 and a beta of 0.74. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company’s 50-day simple moving average is $88.32 and its 200-day simple moving average is $83.55. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last announced 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). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the business earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

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.