Norges Bank Takes $564.87 Million Position in ONEOK, Inc. $OKE

Norges Bank bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,685,265 shares of the utilities provider’s stock, valued at approximately $564,867,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after purchasing an additional 380,744 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after purchasing an additional 518,746 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of ONEOK by 46.3% during 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. Invesco Ltd. increased its holdings in shares of ONEOK by 6.3% during the 3rd quarter. Invesco Ltd. now owns 8,919,098 shares of the utilities provider’s stock valued at $650,827,000 after purchasing an additional 532,267 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of ONEOK by 14.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,433,178 shares of the utilities provider’s stock valued at $396,462,000 after purchasing an additional 703,834 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

ONEOK stock opened at $84.05 on Monday. The company’s fifty day moving average price is $88.85 and its 200 day moving average price is $81.35. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The stock has a market capitalization of $52.95 billion, a P/E ratio of 14.98, a P/E/G ratio of 6.23 and a beta of 0.74. 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 (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (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 during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the business posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities research analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s payout ratio is 76.29%.

Wall Street Analyst Weigh In

OKE has been the subject of several recent research reports. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Royal Bank Of Canada lifted their target price on shares of ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a report on Thursday, March 19th. Wells Fargo & Company dropped their price target on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley lifted their price target 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. Eight equities research 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.com, the company has an average rating of “Hold” and an average price target of $91.88.

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.