ONEOK (NYSE:OKE) Sets New 1-Year High – Here’s What Happened

Shares of ONEOK, Inc. (NYSE:OKE) hit a new 52-week high on Tuesday . The company traded as high as $95.59 and last traded at $95.1530, with a volume of 2441720 shares trading hands. The stock had previously closed at $93.76.

Analyst Ratings Changes

Several equities research analysts recently commented on OKE shares. Freedom Capital raised ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. TD Cowen boosted their price objective on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Barclays boosted their price objective on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Finally, 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 report on Friday, May 8th. Seven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average target price of $91.88.

ONEOK Price Performance

The stock has a fifty day moving average of $87.93 and a 200-day moving average of $79.83. 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 stock has a market capitalization of $59.95 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 6.71 and a beta of 0.78.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period last year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.76 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is 76.29%.

Institutional Investors Weigh In On ONEOK

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. Empowered Funds LLC raised its position in ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after acquiring an additional 137 shares in the last quarter. Acadian Asset Management LLC purchased a new position in ONEOK in the first quarter worth $216,000. Federated Hermes Inc. raised its position in ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after acquiring an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in ONEOK by 3.9% in the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after acquiring an additional 4,902 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

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.