MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $256.98 Million Holdings in ONEOK, Inc. $OKE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in ONEOK, Inc. by 22.8% during the first quarter, owning approximately 2.59 million shares valued at $256.98 million.
• ONEOK's recent quarterly earnings showed a profit of $1.34 per share, surpassing analysts' expectations of $1.33, along with a revenue of $8.21 billion compared to the forecast of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, translating to an annualized dividend of $4.12 with a current dividend yield of 5.5%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 22.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,590,086 shares of the utilities provider's stock after acquiring an additional 480,632 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.41% of ONEOK worth $256,983,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Greenline Partners LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at $32,000. First Pacific Financial acquired a new stake in shares of ONEOK in the first quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new stake in shares of ONEOK in the fourth quarter valued at $37,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of ONEOK by 2,466.7% in the first 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 during the period. Finally, MorganRosel Wealth Management LLC acquired a new stake in shares of ONEOK in the first quarter valued at $39,000. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Up 0.8%

NYSE:OKE traded up $0.57 during trading hours on Wednesday, hitting $72.41. 1,495,283 shares of the company's stock traded hands, compared to its average volume of 3,903,168. The firm has a market cap of $45.60 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.70 and a beta of 1.04. ONEOK, Inc. has a twelve month low of $70.63 and a twelve month high of $118.07. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59. The stock's fifty day moving average price is $77.69 and its two-hundred day moving average price is $83.74.

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 for the quarter, beating the consensus estimate of $1.33 by $0.01. The firm 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 period in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's payout ratio is presently 80.31%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Scotiabank set a $92.00 price objective on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Barclays set a $83.00 target price on ONEOK in a report on Thursday, August 14th. Mizuho reduced their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Finally, Royal Bank Of Canada reduced their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $100.60.

ONEOK Company 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.