Cornerstone Advisory LLC Acquires 6,454 Shares of ONEOK, Inc. $OKE

Cornerstone Advisory LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 211.9% during the first quarter, Holdings Channel reports. The institutional investor owned 9,500 shares of the utilities provider’s stock after acquiring an additional 6,454 shares during the quarter. Cornerstone Advisory LLC’s holdings in ONEOK were worth $859,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT boosted its stake in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Portus Wealth Advisors LLC purchased a new stake in ONEOK in the first quarter worth about $33,000. Elyxium Wealth LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC purchased a new position in shares of ONEOK during the fourth quarter valued at approximately $29,000. Finally, SRH Advisors LLC lifted its holdings in shares of ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 241 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley upped their price target on ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Wells Fargo & Company lowered their price objective on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Raymond James Financial reissued an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, TD Cowen raised their price target on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $91.75.

ONEOK Price Performance

Shares of OKE opened at $91.97 on Wednesday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a market capitalization of $57.96 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 6.89 and a beta of 0.73. The firm has a 50 day moving average of $88.76 and a 200 day moving average of $84.97. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. ONEOK’s payout ratio is currently 76.29%.

ONEOK 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.