Cumberland Partners Ltd Sells 6,780 Shares of ONEOK, Inc. $OKE

Cumberland Partners Ltd lessened its stake in ONEOK, Inc. (NYSE:OKE) by 28.8% in the 1st quarter, HoldingsChannel reports. The fund owned 16,790 shares of the utilities provider’s stock after selling 6,780 shares during the quarter. Cumberland Partners Ltd’s holdings in ONEOK were worth $1,518,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of OKE. Zions Bancorporation National Association UT increased its holdings in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 143 shares in the last quarter. Portus Wealth Advisors LLC bought a new position in ONEOK in the 1st quarter valued at $33,000. Elyxium Wealth LLC bought a new position in ONEOK in the 4th quarter valued at $29,000. Wilkerson Advisory Group LLC increased its stake in shares of ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after buying an additional 133 shares during the period. Finally, Cornerstone Financial Management LLC bought a new stake in shares of ONEOK during the fourth quarter worth $29,000. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

OKE has been the topic of several research reports. Truist Financial upped their price target on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. 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 report on Thursday, July 16th. Finally, Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.44.

ONEOK Stock Performance

OKE stock opened at $93.13 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. The company has a market cap of $58.69 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 5.02 and a beta of 0.73. The business’s fifty day moving average is $89.48 and its 200-day moving average is $85.96.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS 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 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 firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK’s payout ratio is presently 76.29%.

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.