Axxcess Wealth Management LLC Grows Stock Position in ONEOK, Inc. $OKE

Axxcess Wealth Management LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 70.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,314 shares of the utilities provider’s stock after buying an additional 7,985 shares during the period. Axxcess Wealth Management LLC’s holdings in ONEOK were worth $1,746,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research reports. Freedom Capital upgraded ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Wells Fargo & Company cut their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $92.00 to $89.00 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 report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus target price of $91.75.

ONEOK Price Performance

OKE stock opened at $91.21 on Thursday. The firm has a market cap of $57.47 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 6.78 and a beta of 0.73. 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, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The stock has a 50-day simple moving average of $88.73 and a 200-day simple moving average of $84.46.

ONEOK (NYSE:OKE) last released its quarterly 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 company 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 last year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.72 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, May 4th. 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.