Capital Group Private Client Services Inc. Buys New Shares in ONEOK, Inc. $OKE

Capital Group Private Client Services Inc. bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 31,297 shares of the utilities provider’s stock, valued at approximately $2,300,000.

Other large investors also recently modified their holdings of the company. Legal & General Group Plc boosted its position in ONEOK by 1.6% during the third quarter. Legal & General Group Plc now owns 5,218,376 shares of the utilities provider’s stock worth $380,785,000 after acquiring an additional 80,683 shares during the last quarter. Russell Investments Group Ltd. boosted its position in ONEOK by 1.4% during the third quarter. Russell Investments Group Ltd. now owns 1,232,011 shares of the utilities provider’s stock worth $89,910,000 after acquiring an additional 16,871 shares during the last quarter. WBI Investments LLC boosted its position in ONEOK by 221.5% during the third quarter. WBI Investments LLC now owns 35,768 shares of the utilities provider’s stock worth $2,610,000 after acquiring an additional 24,643 shares during the last quarter. Aberdeen Group plc boosted its position in ONEOK by 46.0% during the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock worth $70,388,000 after acquiring an additional 301,654 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in ONEOK by 20.1% during the third quarter. Coldstream Capital Management Inc. now owns 46,899 shares of the utilities provider’s stock worth $3,422,000 after acquiring an additional 7,843 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $88.26 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. The firm has a market capitalization of $55.61 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 6.60 and a beta of 0.74. The company’s 50-day moving average is $88.56 and its two-hundred day moving average is $81.98. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. 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. Analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued 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 is currently 76.29%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent research reports. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Morgan Stanley boosted their price target on shares of ONEOK from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 7th. Finally, TD Cowen boosted their target price on shares of ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK has an average rating of “Hold” and an average 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.