Tulsa Wealth Advisors INC Makes New $7.04 Million Investment in ONEOK, Inc. $OKE

Tulsa Wealth Advisors INC purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 95,844 shares of the utilities provider’s stock, valued at approximately $7,045,000. ONEOK accounts for approximately 2.3% of Tulsa Wealth Advisors INC’s investment portfolio, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CFO Capital Management LLC purchased a new position in shares of ONEOK in the fourth quarter worth approximately $386,000. MidFirst Bank purchased a new position in ONEOK during the fourth quarter valued at approximately $9,533,000. Alternative Investment Advisors LLC. lifted its holdings in ONEOK by 1.4% during the fourth quarter. Alternative Investment Advisors LLC. now owns 12,832 shares of the utilities provider’s stock valued at $943,000 after purchasing an additional 183 shares in the last quarter. SG Trading Solutions LLC bought a new position in shares of ONEOK in the fourth quarter worth approximately $498,000. Finally, Pacer Advisors Inc. increased its stake in shares of ONEOK by 18.6% in the fourth quarter. Pacer Advisors Inc. now owns 129,728 shares of the utilities provider’s stock worth $9,535,000 after purchasing an additional 20,302 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.0%

ONEOK stock opened at $85.06 on Friday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The firm’s 50 day moving average price is $88.05 and its 200-day moving average price is $83.08. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The stock has a market cap of $53.59 billion, a P/E ratio of 15.16, a PEG ratio of 6.36 and a beta of 0.74.

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

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is 76.29%.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Barclays raised their price objective on shares of ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Scotiabank downgraded shares of 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 report on Thursday, April 30th. Truist Financial increased their price target on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Finally, Citigroup boosted their price objective on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.88.

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.