ONEOK, Inc. $OKE Stake Boosted by Nissay Asset Management Corp Japan ADV

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in ONEOK, Inc. by 7.4%, raising its holdings to 75,504 shares valued at approximately $7.49 million.
• Multiple institutional investors, including Vanguard Group and Invesco Ltd., also boosted their stakes in ONEOK during the first quarter.
• ONEOK reported a quarterly earnings per share (EPS) of $1.34, exceeding analyst expectations, and declared a dividend of $1.03, providing a yield of 5.7%.

Nissay Asset Management Corp Japan ADV increased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,504 shares of the utilities provider's stock after purchasing an additional 5,216 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in ONEOK were worth $7,492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in ONEOK by 7.2% in the 1st quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock worth $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock worth $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Invesco Ltd. increased its stake in ONEOK by 25.1% in the 1st quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock worth $827,489,000 after purchasing an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in ONEOK by 17.1% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock worth $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp increased its stake in ONEOK by 5.3% in the 1st quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock worth $682,620,000 after purchasing an additional 344,002 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley dropped their target price on ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Mizuho dropped their target price on ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Scotiabank set a $92.00 target price on ONEOK and gave the company a "sector outperform" rating in a report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK presently has a consensus rating of "Moderate Buy" and an average price target of $100.60.

ONEOK Trading Down 2.4%

Shares of NYSE OKE opened at $72.62 on Friday. The stock has a market cap of $45.74 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.73 and a beta of 1.04. The business has a 50 day simple moving average of $78.08 and a 200 day simple moving average of $84.11. ONEOK, Inc. has a 52 week low of $70.63 and a 52 week 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.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. The business had revenue of $8.21 billion during the quarter, compared to analysts' expectations of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the previous year, the business posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

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

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.

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