PNC Financial Services Group Inc. Has $13.12 Million Position in ONEOK, Inc. $OKE

PNC Financial Services Group Inc. lowered its position in ONEOK, Inc. (NYSE:OKE) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 178,555 shares of the utilities provider’s stock after selling 7,059 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ONEOK were worth $13,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in OKE. First Eagle Investment Management LLC increased its stake in shares of ONEOK by 46.3% in the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider’s stock valued at $835,350,000 after buying an additional 3,596,089 shares during the period. Danske Bank A S increased its stake in shares of ONEOK by 3,538.4% in the fourth quarter. Danske Bank A S now owns 1,691,433 shares of the utilities provider’s stock valued at $124,320,000 after buying an additional 1,644,945 shares during the period. Man Group plc increased its stake in shares of ONEOK by 292.1% in the second quarter. Man Group plc now owns 1,558,993 shares of the utilities provider’s stock valued at $127,261,000 after buying an additional 1,161,352 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of ONEOK by 219.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider’s stock valued at $111,897,000 after buying an additional 1,045,976 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of ONEOK by 0.9% in the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock valued at $5,634,932,000 after buying an additional 711,619 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $92.00 to $89.00 in a research note on Thursday, April 30th. Truist Financial upped their price objective on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. upped their price objective on ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Mizuho set a $89.00 target price on shares of ONEOK in a research report on Monday, February 23rd. Finally, Freedom Capital raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $91.88.

ONEOK Stock Performance

NYSE:OKE opened at $93.98 on Friday. The company has a market capitalization of $59.21 billion, a PE ratio of 16.75, a P/E/G ratio of 6.84 and a beta of 0.78. The company has a 50 day simple moving average of $88.54 and a two-hundred day simple moving average of $80.48. 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 fifty-two week low of $64.02 and a fifty-two week high of $96.07.

ONEOK (NYSE:OKE) last released its 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). The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the prior year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.76 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were 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 of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is currently 76.29%.

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.