Diversify Wealth Management LLC Makes New $1.88 Million Investment in ONEOK, Inc. $OKE

Diversify Wealth Management LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,062 shares of the utilities provider’s stock, valued at approximately $1,881,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hoxton Planning & Management LLC lifted its stake in ONEOK by 2.3% during the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 120 shares during the last quarter. Welch Group LLC boosted its holdings in ONEOK by 0.8% in the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock valued at $1,343,000 after purchasing an additional 122 shares in the last quarter. Disciplined Investments LLC increased its stake in ONEOK by 0.6% in the fourth quarter. Disciplined Investments LLC now owns 21,577 shares of the utilities provider’s stock valued at $1,586,000 after purchasing an additional 125 shares during the last quarter. TCV Trust & Wealth Management Inc. raised its holdings in ONEOK by 4.2% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 3,290 shares of the utilities provider’s stock worth $242,000 after purchasing an additional 133 shares in the last quarter. Finally, Fruth Investment Management raised its holdings in ONEOK by 0.7% during the first quarter. Fruth Investment Management now owns 20,015 shares of the utilities provider’s stock worth $1,809,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKE. Truist Financial boosted their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, May 4th. Barclays cut their price target on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Jefferies Financial Group boosted their price target on shares of ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $91.75.

ONEOK Stock Performance

NYSE OKE opened at $91.97 on Wednesday. The firm has a market cap of $57.96 billion, a P/E ratio of 16.39, a P/E/G ratio of 6.89 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 50-day moving average price is $88.76 and its 200 day moving average price is $84.97. 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 posted 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 net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities research analysts expect that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors 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 4.7%. ONEOK’s dividend payout ratio (DPR) is currently 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.