Summit Global Investments Has $1.21 Million Stock Holdings in ONEOK, Inc. $OKE

Summit Global Investments raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 205.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,425 shares of the utilities provider’s stock after acquiring an additional 9,030 shares during the period. Summit Global Investments’ holdings in ONEOK were worth $1,214,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Zions Bancorporation National Association UT grew its stake in shares of 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 purchasing an additional 143 shares during the period. Elyxium Wealth LLC acquired a new position in ONEOK in the fourth quarter valued at about $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK in the fourth quarter valued at about $29,000. SRH Advisors LLC boosted its holdings in ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after buying an additional 241 shares during the last quarter. Finally, Portus Wealth Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.8%

Shares of ONEOK stock opened at $91.84 on Wednesday. The firm has a market cap of $57.87 billion, a PE ratio of 16.37, a P/E/G ratio of 5.03 and a beta of 0.73. The business’s 50 day simple moving average is $89.36 and its 200 day simple moving average is $85.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07.

ONEOK (NYSE:OKE) last released its quarterly 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 firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period last year, the company earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts predict that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.7%. ONEOK’s dividend payout ratio is presently 76.29%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. TD Cowen upped their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Truist Financial lifted their price target on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Finally, Citigroup boosted their price target on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.44.

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.