Chicago Partners Investment Group LLC Cuts Position in ONEOK, Inc. $OKE

Chicago Partners Investment Group LLC cut its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,322 shares of the utilities provider’s stock after selling 8,316 shares during the period. Chicago Partners Investment Group LLC’s holdings in ONEOK were worth $21,801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in ONEOK by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock worth $5,703,845,000 after purchasing an additional 380,744 shares during the last quarter. State Street Corp raised its stake in shares of ONEOK by 1.7% during the 4th quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock worth $1,663,637,000 after buying an additional 599,248 shares during the last quarter. Geode Capital Management LLC grew its position in ONEOK by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after buying an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC grew its position in ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen lifted their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Barclays dropped their price objective on ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Truist Financial upped their price target on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Morgan Stanley lifted their target price on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, ONEOK presently has a consensus rating of “Hold” and an average price target of $91.75.

ONEOK Trading Down 0.0%

Shares of OKE stock opened at $89.90 on Monday. The company has a market capitalization of $56.65 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 6.72 and a beta of 0.73. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The business’s fifty day moving average is $88.73 and its 200 day moving average is $84.71. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate 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 previous year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Announces Dividend

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

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.