Cornerstone Advisory LLC Acquires 6,454 Shares of ONEOK, Inc. $OKE

Cornerstone Advisory LLC raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 211.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,500 shares of the utilities provider’s stock after buying an additional 6,454 shares during the period. Cornerstone Advisory LLC’s holdings in ONEOK were worth $859,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of OKE. WBI Investments LLC boosted its position in ONEOK by 221.5% during the 3rd quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock valued at $2,610,000 after buying an additional 24,643 shares during the period. Coldstream Capital Management Inc. grew its holdings in ONEOK by 20.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider’s stock worth $3,422,000 after acquiring an additional 7,843 shares during the last quarter. Aberdeen Group plc increased its position in shares of ONEOK by 46.0% in the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after acquiring an additional 301,654 shares during the period. Swiss Life Asset Management Ltd increased its position in shares of ONEOK by 219.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock valued at $111,897,000 after acquiring an additional 1,045,976 shares during the period. Finally, Triune Financial Partners LLC bought a new position in shares of ONEOK during the fourth quarter valued at about $1,151,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKE. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Raymond James Financial restated an “outperform” rating and set a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. Truist Financial upped their price target on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Citigroup lifted their price objective on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $91.75.

ONEOK Trading Down 0.2%

NYSE:OKE opened at $91.97 on Wednesday. The company has a 50-day moving average price of $88.76 and a 200-day moving average price of $84.97. The stock has a market cap of $57.96 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 6.89 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities analysts predict that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $1.07 per share. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. ONEOK’s dividend payout ratio is 76.29%.

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.