CIBC Asset Management Inc Boosts Stake in ONEOK, Inc. $OKE

CIBC Asset Management Inc raised its position in ONEOK, Inc. (NYSE:OKE) by 60.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,135 shares of the utilities provider’s stock after buying an additional 62,423 shares during the period. CIBC Asset Management Inc’s holdings in ONEOK were worth $12,137,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Marble Wealth LLC bought a new position in shares of ONEOK during the fourth quarter worth about $677,000. Capital Innovations LLC acquired a new stake in ONEOK during the fourth quarter worth about $2,096,000. Calton & Associates Inc. acquired a new stake in ONEOK during the fourth quarter worth about $230,000. Heritage Trust Co raised its stake in ONEOK by 2.4% during the fourth quarter. Heritage Trust Co now owns 62,506 shares of the utilities provider’s stock worth $4,594,000 after acquiring an additional 1,456 shares during the period. Finally, One Capital Management LLC raised its stake in ONEOK by 122.7% during the fourth quarter. One Capital Management LLC now owns 12,959 shares of the utilities provider’s stock worth $952,000 after acquiring an additional 7,141 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

NYSE OKE opened at $88.26 on Friday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. 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 PE ratio of 15.73, a P/E/G ratio of 6.65 and a beta of 0.74. The company’s 50 day simple moving average is $88.56 and its 200 day simple moving average is $81.89.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $8.23 billion. During the same quarter in the prior year, the business earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, May 4th. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

Analysts Set New Price Targets

OKE has been the topic of several research reports. Citigroup increased their price objective on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. TD Cowen increased their price objective on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, Truist Financial increased their price objective on shares of ONEOK from $91.00 to $93.00 and gave the stock a “hold” rating in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.