Meiji Yasuda Asset Management Co Ltd. Buys Shares of 14,031 ONEOK, Inc. $OKE

Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 14,031 shares of the utilities provider’s stock, valued at approximately $1,220,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT boosted its position in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares during the period. Elyxium Wealth LLC bought a new stake in ONEOK during the 4th quarter worth approximately $29,000. Cornerstone Financial Management LLC bought a new stake in ONEOK during the 4th quarter worth approximately $29,000. Portus Wealth Advisors LLC purchased a new stake in ONEOK in the 1st quarter worth approximately $33,000. Finally, Wilkerson Advisory Group LLC lifted its stake in ONEOK by 51.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 133 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OKE shares. Barclays reduced their price target on shares of 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 reiterated a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. US Capital Advisors cut ONEOK from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, August 20th. Finally, Citigroup upped their target price on ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Trading Down 0.3%

Shares of ONEOK stock opened at $93.06 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $97.90. The firm has a market cap of $58.66 billion, a PE ratio of 16.05, a PEG ratio of 2.60 and a beta of 0.73. The company has a 50 day simple moving average of $90.20 and a two-hundred day simple moving average of $88.40.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. 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 fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio 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.