Resona Asset Management Co. Ltd. Purchases 7,904 Shares of ONEOK, Inc. $OKE

Resona Asset Management Co. Ltd. lifted its position in ONEOK, Inc. (NYSE:OKE) by 3.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 210,005 shares of the utilities provider’s stock after buying an additional 7,904 shares during the period. Resona Asset Management Co. Ltd.’s holdings in ONEOK were worth $17,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of OKE. Atlantic Union Bankshares Corp purchased a new position in ONEOK in the second quarter worth about $957,000. Moors & Cabot Inc. boosted its holdings in shares of ONEOK by 1.7% in the second quarter. Moors & Cabot Inc. now owns 91,846 shares of the utilities provider’s stock worth $7,497,000 after buying an additional 1,504 shares during the last quarter. Cassaday & Co Wealth Management LLC grew its position in ONEOK by 3.4% during the second quarter. Cassaday & Co Wealth Management LLC now owns 20,142 shares of the utilities provider’s stock valued at $1,644,000 after buying an additional 670 shares during the period. Partners Group Holding AG purchased a new stake in ONEOK during the second quarter valued at approximately $202,000. Finally, Fullcircle Wealth LLC bought a new position in ONEOK in the second quarter worth approximately $610,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on OKE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. TD Cowen cut their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $72.00 price target on shares of ONEOK in a research report on Monday. Wells Fargo & Company lowered their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. Finally, Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $91.94.

Insider Activity

In other news, Director Brian L. Derksen bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at approximately $1,399,200. This represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

ONEOK Trading Up 0.5%

ONEOK stock opened at $68.15 on Friday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The firm’s 50 day moving average price is $70.92 and its 200-day moving average price is $77.25. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The stock has a market cap of $42.88 billion, a P/E ratio of 12.53, a PEG ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The firm had revenue of $9.17 billion during the quarter, compared to analyst estimates of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same quarter in the prior year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be given a dividend of $1.03 per share. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.0%. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

About ONEOK

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.