Resona Asset Management Co. Ltd. Sells 6,647 Shares of ONEOK, Inc. $OKE

Resona Asset Management Co. Ltd. decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 195,183 shares of the utilities provider’s stock after selling 6,647 shares during the period. Resona Asset Management Co. Ltd.’s holdings in ONEOK were worth $14,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of OKE. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC grew its position in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares during the period. Acadian Asset Management LLC bought a new stake in shares of ONEOK during the 1st quarter valued at $216,000. Federated Hermes Inc. grew its position in shares of ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 383 shares during the period. Finally, NewEdge Advisors LLC grew its position in shares of ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after acquiring an additional 4,902 shares during the period. Institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKE. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $91.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Wells Fargo & Company lowered their target price on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, TD Cowen lifted their target price on shares of ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $91.88.

ONEOK Price Performance

OKE stock opened at $92.13 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The company’s fifty day moving average price is $88.22 and its 200-day moving average price is $80.20. ONEOK, Inc. has a one year low of $64.02 and a one year high of $96.07. The company has a market capitalization of $58.04 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 6.92 and a beta of 0.78.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $8.23 billion. ONEOK had a net margin of 10.03% and a return on equity of 16.06%. During the same period in the previous year, the business posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.76 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s dividend payout ratio is 76.29%.

About ONEOK

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.