Glenview Trust Co Takes $3.10 Million Position in ONEOK, Inc. $OKE

Glenview Trust Co acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 34,238 shares of the utilities provider’s stock, valued at approximately $3,095,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT lifted its position in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after buying an additional 143 shares during the last quarter. Elyxium Wealth LLC bought a new position in ONEOK during the 4th quarter valued at about $29,000. Cornerstone Financial Management LLC purchased a new stake in ONEOK in the 4th quarter worth about $29,000. Transamerica Financial Advisors LLC lifted its stake in ONEOK by 69.6% in the second quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 149 shares during the last quarter. Finally, Portus Wealth Advisors LLC bought a new stake in ONEOK in the first quarter worth about $33,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 0.2%

Shares of NYSE OKE opened at $94.88 on Friday. The business has a fifty day moving average price of $90.89 and a 200 day moving average price of $88.71. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90. 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 stock has a market capitalization of $59.81 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.64 and a beta of 0.73.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Citigroup boosted their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. JPMorgan Chase & Co. raised their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Finally, Barclays lowered their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.94.

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.