Cumberland Partners Ltd Has $362,000 Position in ONEOK, Inc. $OKE

Cumberland Partners Ltd lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 75.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,160 shares of the utilities provider’s stock after selling 12,630 shares during the period. Cumberland Partners Ltd’s holdings in ONEOK were worth $362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Empowered Funds LLC increased its position in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in ONEOK in the 1st quarter valued at about $216,000. Federated Hermes Inc. raised its stake in shares of ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of ONEOK by 3.9% during the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after purchasing an additional 4,902 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the topic of several research analyst reports. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Barclays reduced their price objective on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Wells Fargo & Company decreased their price objective on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their target price on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $91.81.

ONEOK Stock Up 2.5%

NYSE:OKE opened at $94.99 on Friday. 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 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The stock has a market cap of $59.88 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73. The stock has a 50-day moving average price of $89.48 and a two-hundred day moving average price of $87.61.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced 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 was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is 73.79%.

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.