The Manufacturers Life Insurance Company Purchases Shares of 798,176 ONEOK, Inc. $OKE

Key Points

• The Manufacturers Life Insurance Company acquired 798,176 ONEOK shares valued at approximately $69.4 million, representing about 0.13% of the company. Institutional investors collectively own 69.13% of ONEOK.
• Analysts maintain a generally positive outlook, with ONEOK receiving a “Moderate Buy” consensus rating and an average price target of $91.94.
• ONEOK exceeded quarterly earnings expectations, reporting $1.53 in EPS versus a $1.46 consensus estimate, while paying a quarterly dividend of $1.07 per share, equivalent to a 4.7% annualized yield.

The Manufacturers Life Insurance Company acquired a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 798,176 shares of the utilities provider's stock, valued at approximately $69,393,000. The Manufacturers Life Insurance Company owned approximately 0.13% of ONEOK at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Zions Bancorporation National Association UT boosted its holdings in shares of ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider's stock valued at $25,000 after buying an additional 143 shares in the last quarter. Elyxium Wealth LLC acquired a new stake in ONEOK during the 4th quarter worth $29,000. Cornerstone Financial Management LLC acquired a new stake in ONEOK during the 4th quarter worth $29,000. Portus Wealth Advisors LLC purchased a new stake in ONEOK in the first quarter valued at $33,000. Finally, Wilkerson Advisory Group LLC lifted its position in ONEOK by 51.4% in the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on ONEOK from $103.00 to $105.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 18th. US Capital Advisors downgraded ONEOK from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, August 20th. Barclays decreased their target price on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Weiss Ratings restated a "buy (b-)" rating on shares of ONEOK in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada lifted their price target on ONEOK from $84.00 to $90.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $91.94.

ONEOK Trading Down 1.4%

NYSE OKE opened at $91.74 on Wednesday. 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 firm has a market cap of $57.83 billion, a PE ratio of 15.82, a P/E/G ratio of 2.59 and a beta of 0.73. ONEOK, Inc. has a one year low of $64.02 and a one year high of $97.90. The firm's fifty day moving average is $90.31 and its two-hundred day moving average is $88.48.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results 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 net margin of 9.29% and a return on equity of 16.41%. The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. Analysts expect that ONEOK, Inc. will post 5.84 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, August 3rd. ONEOK's dividend payout ratio (DPR) is presently 73.79%.

ONEOK Company Profile

ONEOK, Inc NYSE: OKE is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK's asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.

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