Pinnacle West Asset Management Inc. Takes Position in ONEOK, Inc. $OKE

Pinnacle West Asset Management Inc. purchased a new position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 21,093 shares of the utilities provider’s stock, valued at approximately $1,834,000. ONEOK comprises approximately 1.3% of Pinnacle West Asset Management Inc.’s investment portfolio, making the stock its 28th largest position.

A number of other institutional investors have also made changes to their positions in the stock. Zions Bancorporation National Association UT lifted its stake in ONEOK by 73.3% in the fourth 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 during the period. Elyxium Wealth LLC bought a new position in ONEOK during the fourth quarter worth about $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $29,000. Portus Wealth Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth about $33,000. Finally, Wilkerson Advisory Group LLC increased its stake in shares of ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 133 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. TD Cowen upped their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Finally, Truist Financial lifted their price target on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

Key Stories Impacting ONEOK

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: US Capital Advisors raised its EPS forecasts across multiple periods, including Q3 2026 to $1.56 from $1.45, FY2026 to $5.90 from $5.67, FY2027 to $6.36 from $6.12, and FY2028 to $7.22 from $6.97. The firm’s FY2026 estimate is above the $5.82 analyst consensus, suggesting stronger expected operating performance. MarketBeat ONEOK analyst estimates
• Positive Sentiment: The revisions also lifted forecasts for Q1 through Q4 2027, indicating that US Capital Advisors expects ONEOK’s earnings growth to continue beyond 2026.
• Positive Sentiment: Recent commentary describes ONEOK as a high-yield pipeline stock whose ongoing strength may be underestimated by investors, supporting the long-term income and growth narrative. High-Yield Pipeline Stock Investors Keep Underestimating
• Neutral Sentiment: Analysts maintain a consensus “Moderate Buy” rating for OKE, while Morgan Stanley has indicated that the stock could rise. These views provide support but do not represent new company-specific operating results. ONEOK Consensus Rating Morgan Stanley ONEOK Price Outlook
• Negative Sentiment: US Capital Advisors downgraded ONEOK from “Strong Buy” to “Moderate Buy.” Although the firm raised its earnings estimates, the less-optimistic rating may be pressuring the stock today, particularly after OKE’s recent strong run toward its 52-week high. Zacks ONEOK rating update

ONEOK Trading Down 1.2%

NYSE:OKE opened at $93.43 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The business’s 50-day simple moving average is $90.09 and its 200-day simple moving average is $88.20. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $97.90. The stock has a market capitalization of $58.90 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.64 and a beta of 0.73.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the company posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. ONEOK’s dividend payout ratio is currently 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.