Daiichi Life Insurance Co. Ltd. Invests $1.25 Million in ONEOK, Inc. $OKE

Key Points

• Daiichi Life Insurance acquired 14,412 shares of ONEOK worth approximately $1.25 million in the second quarter. Institutional investors and hedge funds now own 69.13% of the company.
• Analysts maintain a generally positive outlook, with ONEOK carrying a consensus “Moderate Buy” rating and an average price target of $91.94.
• ONEOK exceeded quarterly earnings expectations, reporting $1.53 in EPS versus the $1.46 estimate, while paying a quarterly dividend of $1.07, equivalent to a 4.6% annualized yield.

Daiichi Life Insurance Co. Ltd. bought a new stake in ONEOK, Inc. (NYSE:OKE - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,412 shares of the utilities provider's stock, valued at approximately $1,253,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Commerce Bank acquired a new position in ONEOK during the second quarter worth $14,931,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of ONEOK during the 2nd quarter worth $9,033,000. Varma Mutual Pension Insurance Co purchased a new position in shares of ONEOK during the 2nd quarter worth $15,855,000. Korea Investment CORP acquired a new position in shares of ONEOK during the 2nd quarter valued at about $35,550,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of ONEOK in the second quarter valued at about $2,681,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of ONEOK from $103.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 18th. US Capital Advisors downgraded shares of ONEOK from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, August 20th. TD Cowen lifted 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. Royal Bank Of Canada upped their price objective on ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Finally, Scotiabank cut ONEOK from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. One 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.94.

ONEOK Stock Down 0.3%

NYSE:OKE opened at $93.06 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The stock's fifty day moving average is $90.20 and its two-hundred day moving average is $88.40. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $97.90. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 2.60 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion during the quarter, compared to analyst estimates of $8.95 billion. During the same quarter last year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.84 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $1.07 dividend. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK's dividend payout ratio (DPR) is 73.79%.

ONEOK 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.

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