Bollard Group LLC Increases Holdings in ONEOK, Inc. $OKE

Bollard Group LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 15.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 721,832 shares of the utilities provider’s stock after buying an additional 94,617 shares during the quarter. ONEOK accounts for approximately 1.9% of Bollard Group LLC’s investment portfolio, making the stock its 9th largest holding. Bollard Group LLC’s holdings in ONEOK were worth $65,247,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Zions Bancorporation National Association UT lifted its stake in shares of 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 acquiring an additional 143 shares during the period. Portus Wealth Advisors LLC acquired a new stake in ONEOK in the first quarter worth about $33,000. Elyxium Wealth LLC acquired a new stake in ONEOK in the fourth quarter worth about $29,000. Wilkerson Advisory Group LLC raised its holdings in ONEOK by 51.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC bought a new stake in ONEOK during the 4th quarter worth about $29,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Down 0.1%

OKE stock opened at $93.13 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07. The stock has a market capitalization of $58.69 billion, a P/E ratio of 16.60, a P/E/G ratio of 5.02 and a beta of 0.73. The business has a 50-day moving average of $89.48 and a 200-day moving average of $85.96.

ONEOK (NYSE:OKE) last announced 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 return on equity of 16.06% and a net margin of 10.03%.The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the prior year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $1.07 per share. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised 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. Wells Fargo & Company dropped their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. Finally, TD Cowen upped their price target on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.44.

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.