Mitsubishi UFJ Asset Management Co. Ltd. Purchases 116,986 Shares of ONEOK, Inc. $OKE

Key Points

• Mitsubishi UFJ Asset Management increased its ONEOK stake by 8.2%, adding 116,986 shares to hold 1.54 million shares valued at approximately $133.9 million. Institutional investors collectively own 69.13% of the company.
• ONEOK reported quarterly EPS of $1.53, exceeding the $1.46 consensus estimate, while revenue reached $12.05 billion versus expectations of $8.95 billion. Analysts expect full-year EPS of about $5.81.
• ONEOK pays a quarterly dividend of $1.07 per share, equivalent to an annualized $4.28 and a 4.4% yield. The stock has a “Moderate Buy” consensus rating with an average price target of $91.94, below its reported $97.58 share price.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 8.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,539,821 shares of the utilities provider's stock after buying an additional 116,986 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.24% of ONEOK worth $133,872,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Triune Financial Partners LLC purchased a new position in ONEOK in the fourth quarter worth about $1,151,000. Swiss Life Asset Management Ltd raised its position in ONEOK by 219.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock valued at $111,897,000 after purchasing an additional 1,045,976 shares during the period. Castle Rock Wealth Management LLC lifted its stake in shares of ONEOK by 360.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock valued at $2,815,000 after purchasing an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. Finally, Torray Investment Partners LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $19,109,000. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

Shares of OKE stock opened at $97.58 on Wednesday. The stock's 50-day moving average is $89.82 and its 200 day moving average is $87.93. 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, Inc. has a 1-year low of $64.02 and a 1-year high of $97.90. The company has a market cap of $61.51 billion, a P/E ratio of 16.82, a PEG ratio of 7.10 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly 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. The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.During the same quarter last year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Research analysts predict that ONEOK, Inc. will post 5.81 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, August 3rd. ONEOK's payout ratio is presently 73.79%.

Analyst Ratings Changes

OKE has been the topic of several recent research reports. Royal Bank Of Canada increased their price target on ONEOK from $84.00 to $90.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. Wells Fargo & Company cut their price objective on shares of ONEOK from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Citigroup increased their target price on shares of ONEOK from $95.00 to $97.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of ONEOK in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $91.94.

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.

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