Wealthfront Advisers LLC Purchases 114,987 Shares of ONEOK, Inc. $OKE

Wealthfront Advisers LLC increased its position in ONEOK, Inc. (NYSE:OKE) by 117.2% in the second quarter, HoldingsChannel reports. The firm owned 213,118 shares of the utilities provider’s stock after purchasing an additional 114,987 shares during the quarter. Wealthfront Advisers LLC’s holdings in ONEOK were worth $18,528,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of OKE. Vanguard Group Inc. lifted its position in ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider’s stock valued at $5,703,845,000 after acquiring an additional 380,744 shares during the period. BlackRock Inc. grew its holdings in ONEOK by 8.7% in the second quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider’s stock worth $5,610,887,000 after purchasing an additional 5,148,768 shares during the period. State Street Corp grew its holdings in ONEOK by 1.7% in the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider’s stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider’s stock valued at $1,663,637,000 after purchasing an additional 599,248 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ONEOK by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider’s stock valued at $1,215,107,000 after purchasing an additional 518,746 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on OKE shares. Scotiabank cut 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 report on Thursday, April 30th. TD Cowen raised their price objective on ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Royal Bank Of Canada boosted their target price on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their target price on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK Trading Up 2.4%

NYSE:OKE opened at $97.58 on Wednesday. The company’s 50 day moving average price is $89.82 and its 200-day moving average price is $87.93. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $97.90. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The stock has a market cap of $61.51 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 7.10 and a beta of 0.73.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the previous year, the business earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.81 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.4%. ONEOK’s dividend payout ratio (DPR) 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.