Bank of New York Mellon Corp Cuts Stock Position in ONEOK, Inc. $OKE

Bank of New York Mellon Corp trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,323,182 shares of the utilities provider’s stock after selling 539,348 shares during the quarter. Bank of New York Mellon Corp’s holdings in ONEOK were worth $317,754,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares in the last quarter. Geode Capital Management LLC raised its holdings in ONEOK by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock worth $1,215,107,000 after purchasing an additional 518,746 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock worth $835,350,000 after purchasing an additional 3,596,089 shares in the last quarter. Invesco Ltd. raised its holdings in ONEOK by 6.3% in the third 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 in the last quarter. Finally, Norges Bank bought a new position in ONEOK in the fourth quarter worth about $564,867,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 2.5%

Shares of OKE opened at $88.90 on Friday. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company has a market capitalization of $56.01 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 6.49 and a beta of 0.74. The stock has a fifty day simple moving average of $88.63 and a two-hundred day simple moving average of $81.84. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter in the prior year, the company posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is presently 76.29%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wolfe Research downgraded shares of ONEOK from an “outperform” rating to a “peer perform” rating in a report on Wednesday, February 25th. Barclays boosted their price target on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Truist Financial boosted their price target on ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. TD Cowen boosted their price target on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Mizuho set a $89.00 price target on ONEOK in a research note on Monday, February 23rd. Eight 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 company currently has a consensus rating of “Hold” and a consensus target price of $91.88.

ONEOK Profile

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.