Dearborn Partners LLC Acquires Shares of 86,960 ONEOK, Inc. $OKE

Dearborn Partners LLC acquired a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 86,960 shares of the utilities provider’s stock, valued at approximately $7,860,000.

A number of other large investors have also recently made changes to their positions in the business. Asset One Wealth Management LLC bought a new position in shares of ONEOK in the 2nd quarter valued at about $285,000. Safeguard Investment Advisory Group LLC bought a new stake in ONEOK during the second quarter worth approximately $299,000. Infrastructure Capital Advisors LLC bought a new stake in ONEOK during the second quarter worth approximately $6,311,000. Cibc World Market Inc. purchased a new stake in ONEOK during the second quarter valued at approximately $22,375,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in ONEOK during the second quarter valued at approximately $2,718,000. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OKE shares. JPMorgan Chase & Co. lifted their target price on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Royal Bank Of Canada raised their price target on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Finally, Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $91.94.

ONEOK Trading Down 0.3%

Shares of NYSE OKE opened at $93.06 on Tuesday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. 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 company has a market cap of $58.66 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 2.60 and a beta of 0.73. The business’s 50 day moving average price is $90.20 and its 200-day moving average price is $88.40.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the previous year, the business earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, sell-side analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. ONEOK’s dividend payout ratio is presently 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.