Diversify Wealth Management LLC Invests $1.88 Million in ONEOK, Inc. $OKE

Diversify Wealth Management LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 21,062 shares of the utilities provider’s stock, valued at approximately $1,881,000.

A number of other hedge funds have also recently added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its holdings in ONEOK by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after purchasing an additional 380,744 shares in the last quarter. State Street Corp raised its stake in shares of ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after buying an additional 648,647 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ONEOK by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after buying an additional 599,248 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after buying an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Truist Financial raised their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Wells Fargo & Company decreased 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. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada raised their price objective on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, March 19th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.75.

ONEOK Trading Down 0.2%

ONEOK stock opened at $91.97 on Wednesday. The stock has a 50-day moving average price of $88.76 and a 200 day moving average price of $84.97. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The stock has a market cap of $57.96 billion, a PE ratio of 16.39, a P/E/G ratio of 6.89 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same quarter last year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s payout ratio is presently 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.