Elevation Point Wealth Partners LLC Raises Stake in ONEOK, Inc. $OKE

Elevation Point Wealth Partners LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 257.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,488 shares of the utilities provider’s stock after purchasing an additional 16,200 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in ONEOK were worth $1,641,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC increased its holdings in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of ONEOK by 0.8% in the 1st 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 during the period. Acadian Asset Management LLC acquired a new stake in shares of ONEOK in the 1st quarter worth approximately $216,000. KBC Group NV increased its stake in ONEOK by 2.3% in the 2nd quarter. KBC Group NV now owns 50,852 shares of the utilities provider’s stock valued at $4,151,000 after purchasing an additional 1,136 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in ONEOK by 8.2% in the 2nd quarter. Foundations Investment Advisors LLC now owns 10,114 shares of the utilities provider’s stock valued at $826,000 after purchasing an additional 769 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $87.00 to $83.00 in a research report on Tuesday, January 27th. Mizuho set a $89.00 price target on ONEOK in a research report on Monday, February 23rd. Jefferies Financial Group began coverage on ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target for the company. Barclays boosted their price objective on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Finally, UBS Group lowered their price objective on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus price target of $86.60.

ONEOK Stock Performance

ONEOK stock opened at $85.44 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The stock has a fifty day moving average of $80.59 and a two-hundred day moving average of $74.77. The company has a market capitalization of $53.81 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 6.50 and a beta of 0.93. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same period in the previous year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were issued a $1.07 dividend. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. ONEOK’s payout ratio is currently 78.97%.

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.