CIBC Private Wealth Group LLC Reduces Stock Holdings in ONEOK, Inc. $OKE

CIBC Private Wealth Group LLC reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,354,725 shares of the utilities provider’s stock after selling 315,017 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in ONEOK were worth $171,824,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in ONEOK in the 2nd quarter valued at about $562,832,000. Boston Partners increased its holdings in shares of ONEOK by 53.7% during the 2nd quarter. Boston Partners now owns 5,509,100 shares of the utilities provider’s stock worth $448,476,000 after buying an additional 1,924,864 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of ONEOK by 24.2% during the 3rd quarter. First Eagle Investment Management LLC now owns 7,769,215 shares of the utilities provider’s stock valued at $566,920,000 after buying an additional 1,513,042 shares during the period. Vanguard Group Inc. raised its position in shares of ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock valued at $6,245,591,000 after buying an additional 1,314,002 shares during the period. Finally, Man Group plc lifted its holdings in ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after acquiring an additional 1,161,352 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OKE shares. JPMorgan Chase & Co. lowered ONEOK from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $87.00 to $83.00 in a research report on Tuesday, January 27th. UBS Group decreased their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Scotiabank reiterated an “outperform” rating and set a $91.00 price target on shares of ONEOK in a report on Friday, January 16th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday, December 29th. Finally, Mizuho set a $89.00 price objective on shares of ONEOK in a report on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK currently has an average rating of “Hold” and an average target price of $86.60.

ONEOK Stock Performance

NYSE:OKE opened at $86.62 on Wednesday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The company has a 50 day moving average price of $81.14 and a 200 day moving average price of $74.91. The stock has a market capitalization of $54.55 billion, a P/E ratio of 15.98, a PEG ratio of 6.50 and a beta of 0.93.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.77 billion. During the same quarter in the previous year, the company earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were issued a $1.07 dividend. The ex-dividend date was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s dividend payout ratio (DPR) is presently 78.97%.

ONEOK Company 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.