Principal Financial Group Inc. Cuts Stock Holdings in ONEOK, Inc. $OKE

Principal Financial Group Inc. lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 784,121 shares of the utilities provider’s stock after selling 17,650 shares during the period. Principal Financial Group Inc.’s holdings in ONEOK were worth $70,877,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised its position 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 buying an additional 7,843 shares during the last quarter. Aberdeen Group plc boosted its holdings in shares of ONEOK by 46.0% during the 4th 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 last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of ONEOK by 219.5% during the 4th 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 last quarter. Triune Financial Partners LLC bought a new stake in shares of ONEOK in the fourth quarter worth approximately $1,151,000. Finally, Royal Fund Management LLC grew its stake in shares of ONEOK by 40.8% in the fourth quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock worth $5,907,000 after acquiring an additional 23,281 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.0%

OKE opened at $92.86 on Friday. The firm’s 50 day simple moving average is $89.01 and its two-hundred day simple moving average is $85.24. The company has a market capitalization of $58.52 billion, a PE ratio of 16.55, a PEG ratio of 6.80 and a beta of 0.73. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. 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 (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

Analysts Set New Price Targets

OKE has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Citigroup increased 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. Jefferies Financial Group raised their price target on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada lifted their price objective on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a report on Thursday, March 19th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.06.

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.