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

Bank of New York Mellon Corp raised its holdings in ONEOK, Inc. (NYSE:OKE) by 5.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,579,620 shares of the utilities provider’s stock after acquiring an additional 256,438 shares during the period. Bank of New York Mellon Corp owned 0.73% of ONEOK worth $413,952,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Zions Bancorporation National Association UT raised its stake in ONEOK by 73.3% during the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after buying an additional 143 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in ONEOK in the fourth quarter worth approximately $29,000. Cornerstone Financial Management LLC acquired a new position in ONEOK during the fourth quarter worth about $29,000. SRH Advisors LLC increased its holdings in shares of ONEOK by 122.3% in the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after buying an additional 241 shares in the last quarter. Finally, Portus Wealth Advisors LLC acquired a new position in shares of ONEOK in the 1st quarter valued at $33,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $93.57 on Friday. The business has a 50-day moving average price of $89.18 and a two-hundred day moving average price of $85.30. ONEOK, Inc. has a 1-year low of $64.02 and a 1-year high of $96.07. The stock has a market capitalization of $58.96 billion, a P/E ratio of 16.68, a P/E/G ratio of 6.95 and a beta of 0.73. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS 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 analyst estimates of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the prior year, the firm posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Equities analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a $1.07 dividend. The ex-dividend date is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. ONEOK’s dividend payout ratio is currently 76.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OKE shares. Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Morgan Stanley increased their target price 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. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Jefferies Financial Group raised their target price on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, Citigroup boosted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $92.06.

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.