Sumitomo Mitsui DS Asset Management Company Ltd Acquires 4,942 Shares of ONEOK, Inc. $OKE

Key Points

• Sumitomo Mitsui DS Asset Management increased its position in ONEOK, Inc. by 5.8%, acquiring an additional 4,942 shares during the second quarter, bringing its total to approximately 89,956 shares worth $7.34 million.
• ONEOK recently reported earnings of $1.34 per share for the last quarter, exceeding expectations, with significant revenue of $8.21 billion, compared to analysts' forecasts of $7.20 billion.
• The company declared a quarterly dividend of $1.03 per share, providing an annualized yield of 5.8%, with a payout ratio of 80.31% as of the latest report.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,956 shares of the utilities provider's stock after acquiring an additional 4,942 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in ONEOK were worth $7,343,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Marcum Wealth LLC raised its position in ONEOK by 1.1% in the first quarter. Marcum Wealth LLC now owns 10,250 shares of the utilities provider's stock worth $1,017,000 after acquiring an additional 108 shares during the period. Presima Securities ULC increased its stake in shares of ONEOK by 1.4% in the first quarter. Presima Securities ULC now owns 9,477 shares of the utilities provider's stock worth $940,000 after purchasing an additional 127 shares in the last quarter. Morey & Quinn Wealth Partners LLC increased its stake in shares of ONEOK by 0.8% in the first quarter. Morey & Quinn Wealth Partners LLC now owns 15,722 shares of the utilities provider's stock worth $1,560,000 after purchasing an additional 130 shares in the last quarter. Clearstead Trust LLC increased its stake in shares of ONEOK by 5.0% in the first quarter. Clearstead Trust LLC now owns 2,792 shares of the utilities provider's stock worth $277,000 after purchasing an additional 133 shares in the last quarter. Finally, BankPlus Wealth Management LLC increased its stake in shares of ONEOK by 2.8% in the first quarter. BankPlus Wealth Management LLC now owns 4,884 shares of the utilities provider's stock worth $485,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 1.8%

OKE stock traded up $1.27 during trading on Tuesday, hitting $72.89. 787,505 shares of the stock traded hands, compared to its average volume of 3,882,960. ONEOK, Inc. has a 1 year low of $70.63 and a 1 year high of $118.07. The firm's 50 day moving average is $76.14 and its two-hundred day moving average is $82.27. The stock has a market cap of $45.90 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same period in the prior year, the firm posted $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKE shares. Royal Bank Of Canada reduced their target price on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Mizuho reduced their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a research note on Friday, August 1st. Morgan Stanley reduced their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company 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 six have issued a Hold rating to the company. According to MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus price target 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.