The Manufacturers Life Insurance Company Buys 15,796 Shares of ONEOK, Inc. $OKE

The Manufacturers Life Insurance Company lifted its stake in ONEOK, Inc. (NYSE:OKE) by 2.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 798,176 shares of the utilities provider’s stock after acquiring an additional 15,796 shares during the period. The Manufacturers Life Insurance Company’s holdings in ONEOK were worth $69,393,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT grew its holdings in shares of ONEOK by 73.3% during the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of ONEOK during the second quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new position in shares of ONEOK in the fourth quarter valued at $29,000. Cornerstone Financial Management LLC acquired a new position in shares of ONEOK in the fourth quarter valued at $29,000. Finally, Transamerica Financial Advisors LLC lifted its position in ONEOK by 69.6% in the second quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 149 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on OKE shares. JPMorgan Chase & Co. lifted their price target on shares of ONEOK from $95.00 to $106.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Citigroup increased their price objective on shares of ONEOK from $97.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. US Capital Advisors lowered shares of ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Finally, Scotiabank increased their price target on shares of ONEOK from $89.00 to $95.00 and gave the stock a “sector perform” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $96.06.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $96.72 on Friday. The business’s fifty day moving average price is $92.56 and its two-hundred day moving average price is $89.45. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $99.85. The stock has a market capitalization of $60.97 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.72 and a beta of 0.74. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The company had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. During the same period last year, the business earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.73 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors 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 dividend on an annualized basis and a dividend yield of 4.4%. ONEOK’s dividend payout ratio (DPR) is 73.79%.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company’s services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.