Mitsubishi UFJ Trust & Banking Corp Reduces Position in ONEOK, Inc. $OKE

Key Points

• Mitsubishi UFJ Trust & Banking Corp. cut its ONEOK position by 12.7%, selling 335,369 shares and retaining 2.31 million shares valued at approximately $200.8 million. Institutional investors collectively own 69.13% of the company.
• Analyst sentiment remains positive, with ONEOK carrying a “Moderate Buy” consensus rating and an average price target of $91.81, while individual firms recently raised targets as high as $97.
• ONEOK reported quarterly EPS of $1.53, exceeding expectations of $1.46, and declared a quarterly dividend of $1.07, equivalent to an annualized $4.28 payout and a 4.5% yield.

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 12.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,309,312 shares of the utilities provider's stock after selling 335,369 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.37% of ONEOK worth $200,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Triune Financial Partners LLC bought a new position in ONEOK in the 4th quarter valued at $1,151,000. Swiss Life Asset Management Ltd lifted its position in shares of 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 worth $111,897,000 after purchasing an additional 1,045,976 shares during the last quarter. Castle Rock Wealth Management LLC lifted its position in shares of ONEOK by 360.0% during the fourth quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock worth $2,815,000 after purchasing an additional 28,343 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of ONEOK by 46.3% during the fourth quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the period. Finally, Torray Investment Partners LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at $19,109,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Citigroup raised their price target on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 18th. Royal Bank Of Canada upped their target price on shares of ONEOK from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. TD Cowen raised their target price on shares of ONEOK from $85.00 to $90.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. Finally, Freedom Capital raised shares of ONEOK from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $91.81.

ONEOK Price Performance

Shares of OKE stock opened at $94.99 on Friday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. 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 fifty day simple moving average of $89.48 and a two-hundred day simple moving average of $87.61. The stock has a market capitalization of $59.88 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 4.95 and a beta of 0.73.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates 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 firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, analysts predict that ONEOK, Inc. will post 5.87 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders 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 annualized dividend and a dividend yield of 4.5%. ONEOK's payout ratio is currently 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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