ONEOK, Inc. $OKE Stake Lowered by Hilltop Holdings Inc.

Hilltop Holdings Inc. cut its stake in ONEOK, Inc. (NYSE:OKE) by 40.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,944 shares of the utilities provider’s stock after selling 10,259 shares during the quarter. Hilltop Holdings Inc.’s holdings in ONEOK were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted 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 last quarter. Empowered Funds LLC grew its stake in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares in the last quarter. Acadian Asset Management LLC acquired a new position in ONEOK in the first quarter worth approximately $216,000. Federated Hermes Inc. increased its holdings in ONEOK by 14.0% in the second 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 last quarter. Finally, NewEdge Advisors LLC raised its position in ONEOK by 3.9% during the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after acquiring an additional 4,902 shares in the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Raymond James Financial restated an “outperform” rating and set a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. Weiss Ratings raised shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.44.

ONEOK Stock Down 0.1%

OKE opened at $93.13 on Friday. The firm has a market cap of $58.69 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 5.01 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. The business has a 50 day moving average price of $89.48 and a 200 day moving average price of $85.96. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter last year, the business earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts forecast that ONEOK, Inc. will post 5.68 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK’s dividend payout ratio 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.