Keudell Morrison Wealth Management Buys New Holdings in ONEOK, Inc. $OKE

Keudell Morrison Wealth Management bought a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,307 shares of the utilities provider’s stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Invesco Ltd. lifted its stake in shares of ONEOK by 6.3% during the third quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after purchasing an additional 532,267 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ONEOK by 14.9% during the third quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock worth $396,462,000 after purchasing an additional 703,834 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of ONEOK by 1.6% during the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after purchasing an additional 80,683 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the topic of a number of recent research reports. Weiss Ratings upgraded ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Citigroup boosted their price objective on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group boosted their price objective on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. boosted their price objective on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Raymond James Financial restated an “outperform” rating and set a $92.00 price objective on shares of ONEOK in a research note on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average price target of $91.88.

ONEOK Stock Up 0.7%

Shares of NYSE OKE opened at $92.77 on Friday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The firm has a market cap of $58.45 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 6.70 and a beta of 0.78. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The stock’s 50-day simple moving average is $88.38 and its 200-day simple moving average is $80.38.

ONEOK (NYSE:OKE) last announced 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). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. 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.