Bank of New York Mellon Corp Purchases 256,438 Shares of ONEOK, Inc. $OKE

Bank of New York Mellon Corp increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,579,620 shares of the utilities provider’s stock after purchasing an additional 256,438 shares during the quarter. Bank of New York Mellon Corp’s holdings in ONEOK were worth $413,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OKE. Vanguard Group Inc. raised its position in ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after acquiring an additional 380,744 shares in the last quarter. State Street Corp increased its position in ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after buying an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. raised its stake in ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after purchasing an additional 599,248 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of ONEOK by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after buying an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC grew its holdings in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE OKE opened at $93.57 on Friday. The company has a market capitalization of $58.96 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 6.95 and a beta of 0.73. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The company has a 50 day simple moving average of $89.18 and a two-hundred day simple moving average of $85.30.

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

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid 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 presently 76.29%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. TD Cowen boosted their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday. Scotiabank cut ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Finally, Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Eight investment 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 a consensus rating of “Hold” and an average 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.