Caitong International Asset Management Co. Ltd Has $210,000 Stake in ONEOK, Inc. $OKE

Caitong International Asset Management Co. Ltd decreased its stake in ONEOK, Inc. (NYSE:OKE) by 92.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,418 shares of the utilities provider’s stock after selling 28,950 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in ONEOK were worth $210,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OKE. Clearstead Trust LLC raised its position in shares of ONEOK by 4.7% in the 1st quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after acquiring an additional 117 shares during the period. Hoxton Planning & Management LLC boosted its stake in ONEOK by 2.3% during the 4th quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after acquiring an additional 120 shares during the last quarter. Welch Group LLC grew its holdings in ONEOK by 0.8% during the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 122 shares during the period. Pine Valley Investments Ltd Liability Co grew its holdings in ONEOK by 0.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock valued at $2,374,000 after purchasing an additional 122 shares during the period. Finally, FAS Wealth Partners Inc. increased its stake in ONEOK by 2.1% in the first quarter. FAS Wealth Partners Inc. now owns 6,057 shares of the utilities provider’s stock valued at $548,000 after purchasing an additional 123 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OKE shares. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $92.00 to $89.00 in a research report on Thursday, April 30th. TD Cowen raised their price objective on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $103.00 target price (down from $113.00) on shares of ONEOK in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.81.

ONEOK Stock Performance

Shares of OKE stock opened at $94.99 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $96.07. The company’s 50 day moving average price is $89.48 and its two-hundred day moving average price is $87.61. The company has a market capitalization of $59.88 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 4.95 and a beta of 0.73.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same quarter in the prior year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts expect that ONEOK, Inc. will post 5.87 earnings per share for the current fiscal year.

ONEOK Announces Dividend

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

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.