Global Retirement Partners LLC Makes New $4.20 Million Investment in ONEOK, Inc. $OKE

Global Retirement Partners LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 48,290 shares of the utilities provider’s stock, valued at approximately $4,198,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in ONEOK by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after buying an additional 380,744 shares during the last quarter. State Street Corp increased 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 purchasing an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock valued at $1,663,637,000 after purchasing an additional 599,248 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 518,746 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in ONEOK by 46.3% in the fourth 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays reduced their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Truist Financial upped their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research note on Thursday, April 30th. Finally, TD Cowen raised their price objective on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. One equities 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’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $91.81.

ONEOK Trading Up 0.0%

Shares of OKE stock opened at $94.99 on Monday. The stock has a market cap of $59.88 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 7.10 and a beta of 0.73. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The stock has a 50 day simple moving average of $89.48 and a 200 day simple moving average of $87.68.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

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.