ONEOK, Inc. $OKE Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its stake in ONEOK, Inc. by 9.7%, owning 658,947 shares valued at approximately $53.8 million as of the latest SEC filing.
• ONEOK reported earnings per share (EPS) of $1.34 for the last quarter, exceeding analysts' expectations, and generated revenue of $8.21 billion, well above the forecasted $7.20 billion.
• The company recently declared a quarterly dividend of $1.03 per share, amounting to an annual yield of 5.7%, with a payout ratio currently at 80.31%.

Mirae Asset Global Investments Co. Ltd. increased its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 9.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 658,947 shares of the utilities provider's stock after purchasing an additional 58,227 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.10% of ONEOK worth $53,790,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Pacific Financial purchased a new position in ONEOK during the first quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC grew its holdings in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock valued at $38,000 after buying an additional 370 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in ONEOK in the 1st quarter valued at $39,000. Financial Gravity Asset Management Inc. purchased a new stake in ONEOK in the 1st quarter valued at $40,000. Finally, Rakuten Securities Inc. grew its holdings in ONEOK by 152.1% in the 1st quarter. Rakuten Securities Inc. now owns 421 shares of the utilities provider's stock valued at $42,000 after buying an additional 254 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Price Performance

OKE opened at $72.50 on Friday. The stock's 50-day moving average price is $74.86 and its 200 day moving average price is $81.27. ONEOK, Inc. has a 12-month low of $70.63 and a 12-month high of $118.07. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The firm has a market cap of $45.66 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.79 and a beta of 1.01.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter last year, the company earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 1st were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.7%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley decreased their price target on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Royal Bank Of Canada decreased their price target on ONEOK from $94.00 to $88.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 13th. Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group initiated coverage on ONEOK in a research note on Tuesday. They issued a "neutral" rating and a $75.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.00.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.

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