CIBC Private Wealth Group LLC Lowers Stake in ONEOK, Inc. $OKE

CIBC Private Wealth Group LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 11.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,354,725 shares of the utilities provider’s stock after selling 315,017 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.37% of ONEOK worth $171,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OKE. Norges Bank purchased a new position in ONEOK during the second quarter worth approximately $562,832,000. Boston Partners increased its position in shares of ONEOK by 53.7% in the second quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock valued at $448,476,000 after buying an additional 1,924,864 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of ONEOK by 24.2% in the third quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock valued at $566,920,000 after buying an additional 1,513,042 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after buying an additional 1,314,002 shares during the period. Finally, Man Group plc raised its stake in shares of ONEOK by 292.1% during the 2nd quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock worth $127,261,000 after buying an additional 1,161,352 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.5%

OKE stock opened at $86.62 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The firm has a 50-day moving average of $81.14 and a two-hundred day moving average of $74.91. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64. The company has a market cap of $54.55 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 6.50 and a beta of 0.93.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.05. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period in the previous year, the firm posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.9%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, February 2nd. ONEOK’s dividend payout ratio is presently 78.97%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OKE. UBS Group dropped their price target on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Wells Fargo & Company upped their price objective on shares of ONEOK from $79.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. downgraded shares of ONEOK from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Barclays boosted their target price on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average price target of $86.60.

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.