Rakuten Investment Management Inc. Has $9.14 Million Holdings in ONEOK, Inc. $OKE

Rakuten Investment Management Inc. increased its position in ONEOK, Inc. (NYSE:OKE) by 10.3% in the second quarter, HoldingsChannel reports. The firm owned 103,048 shares of the utilities provider’s stock after acquiring an additional 9,664 shares during the period. Rakuten Investment Management Inc.’s holdings in ONEOK were worth $9,143,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glenview Trust Co acquired a new stake in ONEOK during the 2nd quarter valued at $3,095,000. Empowered Funds LLC grew its holdings in shares of ONEOK by 21.8% during the second quarter. Empowered Funds LLC now owns 73,242 shares of the utilities provider’s stock valued at $6,368,000 after buying an additional 13,103 shares in the last quarter. Dearborn Partners LLC acquired a new position in ONEOK during the second quarter valued at $7,860,000. Yukon Wealth Management Inc. acquired a new position in ONEOK during the second quarter valued at $746,000. Finally, Equitable Holdings Inc. boosted its position in ONEOK by 6.6% during the 2nd quarter. Equitable Holdings Inc. now owns 41,998 shares of the utilities provider’s stock worth $3,651,000 after acquiring an additional 2,611 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OKE. US Capital Advisors downgraded ONEOK from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, August 20th. Citigroup boosted their price objective on shares of ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays dropped their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Morgan Stanley increased their target price on shares of ONEOK from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Finally, Royal Bank Of Canada lifted their target price on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK Trading Up 0.2%

Shares of NYSE:OKE opened at $94.88 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $59.81 billion, a PE ratio of 16.36, a P/E/G ratio of 2.64 and a beta of 0.73. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $97.90. The firm has a fifty day moving average price of $90.89 and a 200 day moving average price of $88.71.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The firm had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same period in the previous year, the company earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts expect that ONEOK, Inc. will post 5.84 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK’s dividend payout ratio is currently 73.79%.

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.