OneAscent Financial Services LLC Takes Position in ONEOK, Inc. $OKE

OneAscent Financial Services LLC bought a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 6,084 shares of the utilities provider’s stock, valued at approximately $529,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after acquiring an additional 380,744 shares in the last quarter. BlackRock Inc. raised its holdings in ONEOK by 8.7% in the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after purchasing an additional 5,148,768 shares during the period. State Street Corp raised its holdings in ONEOK by 1.7% in the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. boosted its position in ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after purchasing an additional 599,248 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in ONEOK by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after purchasing an additional 518,746 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $94.69 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $90.03 and its 200-day simple moving average is $88.16. The company has a market cap of $59.69 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.73. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period in the previous year, the business 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 anticipate that ONEOK, Inc. will post 5.82 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is presently 73.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on OKE shares. Royal Bank Of Canada upped their target price on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Wells Fargo & Company dropped their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

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.