Transcend Capital Advisors LLC Raises Stock Position in ONEOK, Inc. $OKE

Transcend Capital Advisors LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 66.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,960 shares of the utilities provider’s stock after acquiring an additional 6,381 shares during the period. Transcend Capital Advisors LLC’s holdings in ONEOK were worth $1,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT increased 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 in the last quarter. Elyxium Wealth LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new position in ONEOK in the 4th quarter valued at about $29,000. Portus Wealth Advisors LLC purchased a new position in ONEOK in the 1st quarter valued at about $33,000. Finally, Wilkerson Advisory Group LLC boosted its holdings in ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after buying an additional 133 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE stock opened at $94.99 on Friday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The firm has a market capitalization of $59.88 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 4.83 and a beta of 0.73. The business has a 50 day simple moving average of $89.48 and a 200-day simple moving average of $87.61.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The firm 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 last year, the business posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts anticipate that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

Analyst Ratings Changes

OKE has been the subject of several research reports. 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. Wells Fargo & Company decreased their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.