Corient Private Wealth LP Grows Position in ONEOK, Inc. $OKE

Corient Private Wealth LP raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,474 shares of the utilities provider’s stock after acquiring an additional 23,775 shares during the period. Corient Private Wealth LP’s holdings in ONEOK were worth $18,476,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

OKE has been the subject of several analyst reports. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. Barclays reduced their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. TD Cowen increased their price target on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.94.

ONEOK Stock Performance

NYSE OKE opened at $94.88 on Friday. The company has a market capitalization of $59.81 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90. The company has a 50-day simple moving average of $90.89 and a 200 day simple moving average of $88.71.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share 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 firm had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Dividend Announcement

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

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.