SteelPeak Wealth LLC Buys Shares of 11,604 ONEOK, Inc. $OKE

SteelPeak Wealth LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,604 shares of the utilities provider’s stock, valued at approximately $1,049,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aberdeen Group plc raised its holdings in ONEOK by 46.0% in the fourth quarter. Aberdeen Group plc now owns 957,663 shares of the utilities provider’s stock valued at $70,388,000 after acquiring an additional 301,654 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock worth $111,897,000 after purchasing an additional 1,045,976 shares in the last quarter. Triune Financial Partners LLC acquired a new position in ONEOK during the fourth quarter worth approximately $1,151,000. Royal Fund Management LLC raised its position in ONEOK by 40.8% in the 4th quarter. Royal Fund Management LLC now owns 80,383 shares of the utilities provider’s stock valued at $5,907,000 after purchasing an additional 23,281 shares during the last quarter. Finally, Castle Rock Wealth Management LLC raised its holdings in shares of ONEOK by 360.0% in the fourth quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider’s stock valued at $2,815,000 after buying an additional 28,343 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. TD Cowen boosted their price objective on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday. Truist Financial raised their price objective on shares of ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $92.00 to $89.00 in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 18th. Eight 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 presently has an average rating of “Hold” and a consensus price target of $92.06.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.57 on Friday. The business’s fifty day moving average price is $89.18 and its two-hundred day moving average price is $85.30. The stock has a market cap of $58.96 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 6.95 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 one year low of $64.02 and a one year high of $96.07.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share 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 company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.72 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

About ONEOK

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.