Corient Private Wealth LP Grows Stock Holdings in ONEOK, Inc. $OKE

Corient Private Wealth LP lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 200,232 shares of the utilities provider’s stock after buying an additional 11,533 shares during the quarter. Corient Private Wealth LP’s holdings in ONEOK were worth $17,408,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System grew its holdings in ONEOK by 6,935.8% during the 2nd quarter. California State Teachers Retirement System now owns 119,843,399 shares of the utilities provider’s stock valued at $10,419,185,000 after purchasing an additional 118,140,062 shares in the last quarter. Capital International Investors purchased a new stake in ONEOK during the 4th quarter worth $586,500,000. Norges Bank acquired a new position in ONEOK in the 4th quarter worth $564,867,000. BlackRock Inc. lifted its holdings in ONEOK by 8.7% in the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after buying an additional 5,148,768 shares in the last quarter. Finally, Legal & General Group Plc purchased a new position in ONEOK in the 2nd quarter valued at about $389,985,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

OKE opened at $97.05 on Tuesday. The company has a market capitalization of $61.17 billion, a P/E ratio of 16.73, a PEG ratio of 2.74 and a beta of 0.74. The company has a 50-day moving average of $92.75 and a 200-day moving average of $89.56. 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 1-year low of $64.02 and a 1-year high of $99.85.

ONEOK (NYSE:OKE) last issued its quarterly 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 business had revenue of $12.05 billion for the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter last year, the company posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities analysts expect that ONEOK, Inc. will post 5.74 EPS for the current fiscal year.

ONEOK Dividend Announcement

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 4.4%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is currently 73.79%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Scotiabank raised their target price on ONEOK from $89.00 to $95.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 1st. Wells Fargo & Company increased their price target on ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a report on Wednesday, September 2nd. Royal Bank Of Canada increased their price target on ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price objective on ONEOK from $95.00 to $106.00 and gave the stock a “neutral” rating in a report on Tuesday, September 1st. Finally, Morgan Stanley increased their target price on ONEOK from $105.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, ONEOK presently has an average rating of “Hold” and an average price target of $96.06.

About ONEOK

ONEOK, Inc (NYSE: OKE) is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company’s services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.