Coldstream Capital Management Inc. Acquires 7,843 Shares of ONEOK, Inc. $OKE

Coldstream Capital Management Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 20.1% during the third quarter, HoldingsChannel reports. The fund owned 46,899 shares of the utilities provider’s stock after acquiring an additional 7,843 shares during the quarter. Coldstream Capital Management Inc.’s holdings in ONEOK were worth $3,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of OKE. Vanguard Group Inc. boosted its holdings in ONEOK by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock valued at $5,634,932,000 after purchasing an additional 711,619 shares during the period. Charles Schwab Investment Management Inc. grew its position in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after purchasing an additional 613,674 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ONEOK by 6.3% during the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock worth $650,827,000 after purchasing an additional 532,267 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 24.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock worth $566,920,000 after purchasing an additional 1,513,042 shares during the period. Finally, Norges Bank acquired a new position in shares of ONEOK during the second quarter valued at about $562,832,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wolfe Research downgraded ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut ONEOK from an “overweight” rating to a “neutral” rating and cut their price target for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Jefferies Financial Group started coverage on ONEOK in a research report on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price objective for the company. UBS Group decreased their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Finally, Scotiabank restated an “outperform” rating and set a $91.00 price objective on shares of ONEOK in a research report on Friday, January 16th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $86.60.

ONEOK Price Performance

Shares of ONEOK stock opened at $86.21 on Thursday. The firm has a market cap of $54.29 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 6.59 and a beta of 0.93. The firm’s 50-day simple moving average is $81.45 and its 200-day simple moving average is $74.99. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $103.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71.

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

ONEOK Increases Dividend

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

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.