Cibc World Market Inc. Raises Holdings in ONEOK, Inc. $OKE

Cibc World Market Inc. raised its stake in ONEOK, Inc. (NYSE:OKE) by 69.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 421,042 shares of the utilities provider’s stock after purchasing an additional 172,587 shares during the quarter. Cibc World Market Inc.’s holdings in ONEOK were worth $30,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OKE. Legal & General Group Plc lifted its stake in ONEOK by 1.6% in the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after acquiring an additional 80,683 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in ONEOK by 1.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider’s stock worth $89,910,000 after acquiring an additional 16,871 shares in the last quarter. WBI Investments LLC increased its position in shares of ONEOK by 221.5% in the 3rd quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock valued at $2,610,000 after purchasing an additional 24,643 shares during the last quarter. Aberdeen Group plc raised its holdings in shares of ONEOK by 46.0% in the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after purchasing an additional 301,654 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of ONEOK by 20.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider’s stock valued at $3,422,000 after purchasing an additional 7,843 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OKE shares. Barclays boosted their target price on shares of ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wells Fargo & Company decreased their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. Jefferies Financial Group upped their price objective on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.88.

ONEOK Price Performance

Shares of NYSE:OKE opened at $88.90 on Friday. The company’s fifty day moving average price is $88.63 and its 200 day moving average price is $81.84. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The firm has a market capitalization of $56.01 billion, a P/E ratio of 15.85, a P/E/G ratio of 6.49 and a beta of 0.74.

ONEOK (NYSE:OKE) last released its quarterly earnings data 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). The company had revenue of $9.62 billion during the quarter, compared to analyst estimates 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 company earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. ONEOK’s dividend payout ratio is 76.29%.

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.