Matrix Trust Co Purchases New Position in ONEOK, Inc. $OKE

Matrix Trust Co acquired a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, HoldingsChannel.com reports. The firm acquired 14,321 shares of the utilities provider’s stock, valued at approximately $1,245,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Pettinga Financial Advisors LLC increased its holdings in shares of ONEOK by 6.8% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 3,275 shares of the utilities provider’s stock worth $285,000 after purchasing an additional 208 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of ONEOK during the second quarter valued at $64,000. Everpar Advisors LLC lifted its holdings in shares of ONEOK by 9.2% during the second quarter. Everpar Advisors LLC now owns 61,637 shares of the utilities provider’s stock valued at $5,359,000 after purchasing an additional 5,178 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of ONEOK by 4.8% during the second quarter. Valeo Financial Advisors LLC now owns 6,602 shares of the utilities provider’s stock valued at $574,000 after buying an additional 304 shares during the last quarter. Finally, Sprinkle Financial Consultants LLC boosted its position in shares of ONEOK by 33.5% during the second quarter. Sprinkle Financial Consultants LLC now owns 170,549 shares of the utilities provider’s stock valued at $14,828,000 after buying an additional 42,770 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Down 0.1%

ONEOK stock opened at $86.33 on Monday. The stock has a market cap of $54.42 billion, a PE ratio of 14.89, a price-to-earnings-growth ratio of 4.50 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The stock has a fifty day moving average of $88.95 and a 200 day moving average of $87.13.

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

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio is 73.79%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley reissued an “equal weight” rating and issued a $103.00 target price (down from $113.00) on shares of ONEOK in a research report on Wednesday, July 29th. Royal Bank Of Canada raised their price target on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. 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. TD Cowen boosted their price objective on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday. 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. According to data from MarketBeat.com, ONEOK presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.81.

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.