Kovitz Investment Group Partners LLC Has $10.69 Million Holdings in ONEOK, Inc. $OKE

Kovitz Investment Group Partners LLC cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 31.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 145,420 shares of the utilities provider’s stock after selling 65,404 shares during the period. Kovitz Investment Group Partners LLC’s holdings in ONEOK were worth $10,688,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT raised its stake in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Elyxium Wealth LLC bought a new stake in ONEOK in the fourth quarter valued at about $29,000. Cornerstone Financial Management LLC bought a new position in shares of ONEOK during the 4th quarter worth approximately $29,000. SRH Advisors LLC boosted its stake in ONEOK by 122.3% in the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares in the last quarter. Finally, Accredited Wealth Management LLC grew its position in ONEOK by 342.5% in the third quarter. Accredited Wealth Management LLC now owns 500 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 387 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Mizuho set a $89.00 price objective on shares of ONEOK in a report on Monday, February 23rd. Finally, Wells Fargo & Company reduced their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, ONEOK presently has a consensus rating of “Hold” and an average price target of $91.88.

ONEOK Stock Performance

Shares of ONEOK stock opened at $85.06 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The firm has a 50 day simple moving average of $88.09 and a 200 day simple moving average of $83.07. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The firm has a market cap of $53.59 billion, a P/E ratio of 15.16, a P/E/G ratio of 6.40 and a beta of 0.74.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

About ONEOK

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.