Mystic Asset Management Inc. Takes $944,000 Position in ONEOK, Inc. $OKE

Mystic Asset Management Inc. purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,860 shares of the utilities provider’s stock, valued at approximately $944,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of ONEOK by 0.5% in the fourth 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 during the last quarter. BlackRock Inc. grew its stake in shares of ONEOK by 8.7% during the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock valued at $5,610,887,000 after purchasing an additional 5,148,768 shares during the last quarter. State Street Corp grew its stake in shares of ONEOK by 1.7% during the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock valued at $2,826,118,000 after purchasing an additional 648,647 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 buying an additional 599,248 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 1.4%

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

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.07. The company had revenue of $12.05 billion during 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 period in the previous year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.82 earnings per share for the current year.

ONEOK Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their target price for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Barclays decreased their price target on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 price objective on shares of ONEOK in a research report on Thursday, April 30th. TD Cowen boosted their price objective on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Finally, Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

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.