Lewis Asset Management LLC Takes $926,000 Position in ONEOK, Inc. $OKE

Lewis Asset Management LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,250 shares of the utilities provider’s stock, valued at approximately $926,000.

A number of other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in ONEOK by 1.6% in the 3rd quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock valued at $380,785,000 after purchasing an additional 80,683 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of ONEOK by 1.4% during the third quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider’s stock worth $89,910,000 after buying an additional 16,871 shares during the period. WBI Investments LLC boosted its position in shares of ONEOK by 221.5% during the third quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock worth $2,610,000 after buying an additional 24,643 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of ONEOK by 20.1% in the third quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider’s stock valued at $3,422,000 after buying an additional 7,843 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in shares of ONEOK by 46.0% in the 4th quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after buying an additional 301,654 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OKE. Truist Financial raised their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a report on Monday, May 4th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. upped their target price 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, Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.88.

ONEOK Stock Down 0.4%

OKE stock opened at $89.18 on Friday. The company’s 50 day moving average price is $88.32 and its 200 day moving average price is $83.55. The firm has a market capitalization of $56.20 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 6.69 and a beta of 0.74. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a $1.07 dividend. The ex-dividend date was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is currently 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.