Cibc World Market Inc. Purchases New Stake in ONEOK, Inc. $OKE

Cibc World Market Inc. acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 257,360 shares of the utilities provider’s stock, valued at approximately $22,375,000.

Several other large investors also recently added to or reduced their stakes in OKE. OMERS ADMINISTRATION Corp purchased a new position in shares of ONEOK during the 2nd quarter worth $2,718,000. Osmosis Investment Management UK Ltd purchased a new position in ONEOK during the second quarter worth about $278,000. Sanctuary Advisors LLC acquired a new position in ONEOK in the 2nd quarter valued at about $14,530,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ONEOK in the 2nd quarter valued at approximately $38,162,000. Finally, Capital Square LLC purchased a new stake in shares of ONEOK in the 2nd quarter valued at approximately $547,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $93.06 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The firm has a market cap of $58.66 billion, a P/E ratio of 16.05, a P/E/G ratio of 2.60 and a beta of 0.73. The firm’s 50 day moving average price is $90.20 and its 200-day moving average price is $88.40. ONEOK, Inc. has a one year low of $64.02 and a one year high of $97.90.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating 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 in the previous year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.6%. ONEOK’s dividend payout ratio is presently 73.79%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OKE. Truist Financial raised their price target on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a report on Monday, May 4th. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Morgan Stanley raised their target price on ONEOK from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, TD Cowen increased their price target on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and an average target price of $91.94.

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.