Frank Rimerman Advisors LLC Takes $985,000 Position in ONEOK, Inc. $OKE

Frank Rimerman Advisors LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,405 shares of the utilities provider’s stock, valued at approximately $985,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. City Holding Co. purchased a new position in shares of ONEOK during the third quarter worth approximately $28,000. Winnow Wealth LLC purchased a new stake in ONEOK in the 3rd quarter valued at $28,000. Global Wealth Strategies & Associates purchased a new stake in ONEOK in the 3rd quarter valued at $29,000. Financial Consulate Inc. acquired a new stake in ONEOK during the 3rd quarter worth $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in ONEOK during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE stock opened at $87.40 on Thursday. The company has a market cap of $55.04 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 6.86 and a beta of 0.84. The stock has a 50 day simple moving average of $84.83 and a 200-day simple moving average of $76.21. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $100.57. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share 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 firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period in the previous year, the business earned $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, February 2nd. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is presently 78.97%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OKE shares. JPMorgan Chase & Co. cut shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $87.00 to $83.00 in a report on Tuesday, January 27th. Truist Financial started coverage on ONEOK in a report on Tuesday, March 24th. They set a “hold” rating and a $91.00 price target on the stock. Scotiabank restated an “outperform” rating and issued a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Royal Bank Of Canada upped their price objective on ONEOK from $79.00 to $84.00 and gave the company a “sector perform” rating in a research note on Thursday, March 19th. Finally, Jefferies Financial Group raised ONEOK from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $98.00 in a research report on Friday, March 20th. Nine investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $88.94.

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.