Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 438,945 ONEOK, Inc. $OKE

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 438,945 shares of the utilities provider’s stock, valued at approximately $38,162,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of ONEOK at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Meridian Wealth Management LLC grew its position in shares of ONEOK by 1.8% in the 2nd quarter. Meridian Wealth Management LLC now owns 6,598 shares of the utilities provider’s stock valued at $574,000 after buying an additional 115 shares during the last quarter. Clearstead Trust LLC lifted its position in ONEOK by 4.7% in the first quarter. Clearstead Trust LLC now owns 2,632 shares of the utilities provider’s stock valued at $238,000 after acquiring an additional 117 shares during the last quarter. Hoxton Planning & Management LLC boosted its stake in ONEOK by 2.3% in the fourth quarter. Hoxton Planning & Management LLC now owns 5,372 shares of the utilities provider’s stock valued at $395,000 after acquiring an additional 120 shares in the last quarter. Welch Group LLC grew its holdings in shares of ONEOK by 0.8% during the first quarter. Welch Group LLC now owns 14,859 shares of the utilities provider’s stock worth $1,343,000 after purchasing an additional 122 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of ONEOK by 0.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 26,261 shares of the utilities provider’s stock worth $2,374,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $93.06 on Tuesday. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $97.90. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The business has a 50 day simple moving average of $90.20 and a 200-day simple moving average of $88.40. The stock has a market capitalization of $58.66 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 2.60 and a beta of 0.73.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter in the previous year, the firm earned $1.34 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.6%. ONEOK’s payout ratio is presently 73.79%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Scotiabank downgraded ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $92.00 to $89.00 in a report on Thursday, April 30th. US Capital Advisors downgraded ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, August 20th. Freedom Capital raised ONEOK from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. Raymond James Financial restated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research report on Thursday, April 30th. Finally, TD Cowen upped their price target on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

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.