Resona Asset Management Co. Ltd. Acquires 7,904 Shares of ONEOK, Inc. $OKE

Resona Asset Management Co. Ltd. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 3.9% in the second quarter, Holdings Channel reports. The fund owned 210,005 shares of the utilities provider’s stock after purchasing an additional 7,904 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ONEOK were worth $17,130,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider’s stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider’s stock valued at $2,079,376,000 after buying an additional 2,542,449 shares during the period. Invesco Ltd. lifted its position in ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider’s stock worth $827,489,000 after buying an additional 1,674,706 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in ONEOK by 17.1% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after buying an additional 1,047,810 shares during the period. Finally, Northern Trust Corp increased its position in ONEOK by 5.3% during the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider’s stock valued at $682,620,000 after acquiring an additional 344,002 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OKE has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Barclays dropped their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a report on Monday. Citigroup decreased their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, TD Cowen cut their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight 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 Price Performance

OKE opened at $68.15 on Friday. The company has a market capitalization of $42.88 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $118.07. The business’s fifty day simple moving average is $70.92 and its 200-day simple moving average is $77.25.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The company had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

About ONEOK

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.