Resona Asset Management Co. Ltd. Sells 8,175 Shares of ONEOK, Inc. $OKE

Resona Asset Management Co. Ltd. reduced its position in ONEOK, Inc. (NYSE:OKE) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,830 shares of the utilities provider’s stock after selling 8,175 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in ONEOK were worth $14,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of ONEOK by 84.0% in the second quarter. Assetmark Inc. now owns 4,047 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 1,848 shares during the period. Morningstar Investment Management LLC boosted its holdings in ONEOK by 18.2% in the 2nd quarter. Morningstar Investment Management LLC now owns 27,375 shares of the utilities provider’s stock worth $2,235,000 after buying an additional 4,206 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in ONEOK by 34.1% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 87,667 shares of the utilities provider’s stock valued at $6,397,000 after buying an additional 22,282 shares in the last quarter. Meixler Investment Management Ltd. grew its stake in ONEOK by 134.0% in the 2nd quarter. Meixler Investment Management Ltd. now owns 30,937 shares of the utilities provider’s stock valued at $2,525,000 after buying an additional 17,714 shares in the last quarter. Finally, Jackson Hole Capital Partners LLC raised its holdings in ONEOK by 24.6% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 81,923 shares of the utilities provider’s stock valued at $6,687,000 after acquiring an additional 16,151 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.7%

OKE opened at $78.02 on Monday. The stock has a market cap of $49.09 billion, a PE ratio of 14.34, a P/E/G ratio of 4.42 and a beta of 0.94. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $105.86. The business’s fifty day simple moving average is $73.12 and its 200 day simple moving average is $73.44.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be paid a $1.07 dividend. This is an increase from ONEOK’s previous quarterly dividend of $1.03. This represents a $4.28 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Monday, February 2nd. ONEOK’s payout ratio is currently 75.74%.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of ONEOK stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OKE has been the subject of a number of analyst reports. UBS Group cut their price target on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Monday, December 29th. TD Cowen reduced their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. Barclays lowered their price target on shares of ONEOK from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Finally, Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $88.56.

About ONEOK

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.