ONEOK, Inc. $OKE Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 16.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,889 shares of the utilities provider’s stock after selling 21,223 shares during the quarter. Bank of Nova Scotia’s holdings in ONEOK were worth $9,752,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in OKE. Zions Bancorporation National Association UT lifted its holdings in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 143 shares during the period. Elyxium Wealth LLC purchased a new stake in ONEOK in the fourth quarter valued at approximately $29,000. Cornerstone Financial Management LLC purchased a new stake in shares of ONEOK during the 4th quarter valued at $29,000. SRH Advisors LLC grew its position in ONEOK by 122.3% during the fourth quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 241 shares during the period. Finally, Portus Wealth Advisors LLC purchased a new position in ONEOK in the first quarter valued at approximately $33,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on OKE shares. Truist Financial raised their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Morgan Stanley increased their price objective on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Barclays decreased their target price on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 18th. Finally, Citigroup raised their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Eight equities research 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 has an average rating of “Hold” and a consensus price target of $92.44.

ONEOK Trading Down 0.0%

Shares of OKE stock opened at $93.13 on Monday. The stock has a 50-day simple moving average of $89.48 and a 200 day simple moving average of $86.05. The stock has a market capitalization of $58.69 billion, a P/E ratio of 16.60, a P/E/G ratio of 5.01 and a beta of 0.73. 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, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07.

ONEOK (NYSE:OKE) last released 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 analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. 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, sell-side analysts expect that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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