Pathway Financial Advisers LLC Cuts Stock Position in ONEOK, Inc. $OKE

Pathway Financial Advisers LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 9.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,916 shares of the utilities provider’s stock after selling 5,694 shares during the quarter. ONEOK comprises approximately 1.4% of Pathway Financial Advisers LLC’s holdings, making the stock its 16th biggest holding. Pathway Financial Advisers LLC’s holdings in ONEOK were worth $4,964,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the period. Empowered Funds LLC boosted its stake in shares of ONEOK by 0.8% in the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 137 shares during the period. Acadian Asset Management LLC acquired a new stake in ONEOK during the 1st quarter valued at $216,000. Federated Hermes Inc. increased its stake in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after buying an additional 383 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock worth $10,640,000 after buying an additional 4,902 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

OKE stock opened at $88.80 on Tuesday. The stock’s 50 day simple moving average is $88.39 and its 200 day simple moving average is $83.70. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The firm has a market cap of $55.96 billion, a P/E ratio of 15.83, a P/E/G ratio of 6.67 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37.

ONEOK (NYSE:OKE) last released 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 analyst estimates 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. As a group, equities research analysts predict that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a yield of 4.8%. ONEOK’s dividend payout ratio (DPR) is currently 76.29%.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Raymond James Financial reissued an “outperform” rating and set a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. Barclays upped their price target on shares of ONEOK from $82.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus 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.