Saudi Central Bank Grows Holdings in ONEOK, Inc. $OKE

Saudi Central Bank increased its holdings in ONEOK, Inc. (NYSE:OKE) by 89.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,102 shares of the utilities provider’s stock after purchasing an additional 20,876 shares during the quarter. Saudi Central Bank’s holdings in ONEOK were worth $3,834,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Zions Bancorporation National Association UT grew its stake in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in ONEOK in the 2nd quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new stake in shares of ONEOK during the fourth quarter valued at $29,000. Cornerstone Financial Management LLC purchased a new stake in shares of ONEOK during the fourth quarter worth about $29,000. Finally, Transamerica Financial Advisors LLC grew its stake in ONEOK by 69.6% in the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent analyst reports. Scotiabank increased their price objective on shares of ONEOK from $89.00 to $95.00 and gave the stock a “sector perform” rating in a report on Tuesday, September 1st. Citigroup upped their target price on ONEOK from $97.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank Of Canada raised their price target on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Morgan Stanley lifted their price objective on ONEOK from $103.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 18th. Finally, Barclays dropped their target price on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $95.50.

ONEOK Trading Down 0.2%

NYSE:OKE opened at $95.25 on Monday. The stock has a market cap of $60.04 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.66 and a beta of 0.74. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The business has a fifty day moving average of $91.67 and a 200-day moving average of $89.13. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $99.85.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The company had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities analysts predict that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s payout ratio is presently 73.79%.

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.