ONEOK (NYSE:OKE) Cut to “Peer Perform” at Wolfe Research

Wolfe Research lowered shares of ONEOK (NYSE:OKE) from an outperform rating to a peer perform rating in a report issued on Wednesday morning, Marketbeat reports.

Other analysts have also recently issued research reports about the company. Barclays reduced their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. Mizuho set a $89.00 price target on ONEOK in a report on Monday. Jefferies Financial Group assumed coverage on ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target for the company. UBS Group cut their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company decreased their target price on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.07.

ONEOK Trading Down 1.6%

ONEOK stock opened at $82.67 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.75 and a current ratio of 0.71. The firm has a market cap of $52.06 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 4.95 and a beta of 0.96. The firm’s 50 day moving average price is $78.17 and its two-hundred day moving average price is $73.98. ONEOK has a 1 year low of $64.02 and a 1 year high of $103.64.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 23rd. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $8.77 billion. During the same quarter last year, the business posted $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, research analysts predict that ONEOK will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were paid a $1.07 dividend. The ex-dividend date was Monday, February 2nd. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.2%. ONEOK’s dividend payout ratio is currently 78.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OKE. Brighton Jones LLC increased its holdings in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after buying an additional 8,834 shares in the last quarter. Empowered Funds LLC raised its position in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new position in ONEOK in the first quarter worth $216,000. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of ONEOK during the second quarter worth $211,000. Finally, Ashton Thomas Private Wealth LLC increased its stake in shares of ONEOK by 20.9% in the second quarter. Ashton Thomas Private Wealth LLC now owns 21,799 shares of the utilities provider’s stock valued at $1,779,000 after buying an additional 3,775 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

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.