ONEOK, Inc. $OKE Stock Holdings Lifted by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its ONEOK stake by 2% in the second quarter, bringing its holdings to 798,176 shares valued at approximately $69.4 million. Institutional investors collectively own 69.13% of the company.
• ONEOK reported quarterly earnings of $1.53 per share, exceeding analyst expectations of $1.46, while revenue reached $12.05 billion versus the $8.95 billion consensus estimate.
• ONEOK pays a quarterly dividend of $1.07 per share, or $4.28 annualized, representing a 4.4% yield. Despite several raised price targets, analysts maintain a consensus “Hold” rating with an average target of $96.06.

The Manufacturers Life Insurance Company grew its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 798,176 shares of the utilities provider's stock after purchasing an additional 15,796 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of ONEOK worth $69,393,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Pin Oak Investment Advisors Inc. acquired a new position in ONEOK in the second quarter worth approximately $28,000. Zions Bancorporation National Association UT grew its position in ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock worth $25,000 after acquiring an additional 143 shares in the last quarter. Portus Wealth Advisors LLC acquired a new position in shares of ONEOK during the 1st quarter worth $33,000. Transamerica Financial Advisors LLC raised its holdings in shares of ONEOK by 69.6% during the 2nd quarter. Transamerica Financial Advisors LLC now owns 363 shares of the utilities provider's stock valued at $32,000 after purchasing an additional 149 shares in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $29,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Trading Up 1.0%

Shares of NYSE:OKE opened at $96.72 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The stock's 50-day moving average is $92.56 and its 200-day moving average is $89.45. The company has a market cap of $60.97 billion, a P/E ratio of 16.68, a P/E/G ratio of 2.72 and a beta of 0.74. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $99.85.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data 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. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The business had revenue of $12.05 billion during the quarter, compared to analysts' expectations of $8.95 billion. During the same quarter in the previous year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.73 earnings per share for the current 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 dividend of $1.07 per share. The ex-dividend date was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.4%. ONEOK's payout ratio is 73.79%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stifel Nicolaus began coverage on ONEOK in a report on Thursday. They set a "hold" rating and a $105.00 target price on the stock. UBS Group set a $93.00 price objective on ONEOK in a research note on Friday. Jefferies Financial Group upped their target price on ONEOK from $95.00 to $105.00 and gave the stock a "hold" rating in a research report on Wednesday, September 2nd. Weiss Ratings upgraded ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Finally, Truist Financial lifted their price target on shares of ONEOK from $93.00 to $104.00 and gave the company a "hold" rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $96.06.

ONEOK Company Profile

ONEOK, Inc NYSE: OKE is an energy infrastructure company that gathers, processes, stores and transports natural gas and natural gas liquids (NGLs). Its operations connect production areas with domestic and international markets through pipelines, processing facilities, fractionation plants, storage assets and export infrastructure.

The company's services include natural gas gathering and processing, interstate and intrastate natural gas transportation and storage, and the gathering, fractionation, storage and transportation of NGLs such as ethane, propane, normal butane, isobutane and natural gasoline.

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