Meiji Yasuda Asset Management Co Ltd. Purchases New Holdings in ONEOK, Inc. $OKE

Meiji Yasuda Asset Management Co Ltd. acquired a new position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,031 shares of the utilities provider’s stock, valued at approximately $1,220,000.

Several other hedge funds and other institutional investors have also bought and sold shares of OKE. 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 worth $25,000 after buying an additional 143 shares during the last quarter. Elyxium Wealth LLC bought a new position in ONEOK during the fourth quarter valued at about $29,000. Cornerstone Financial Management LLC purchased a new stake in ONEOK during the fourth quarter worth about $29,000. Portus Wealth Advisors LLC purchased a new stake in ONEOK during the first quarter worth about $33,000. Finally, Wilkerson Advisory Group LLC raised 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 worth $35,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $93.06 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $58.66 billion, a PE ratio of 16.05, a P/E/G ratio of 2.60 and a beta of 0.73. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $97.90. The company has a 50-day moving average price of $90.20 and a two-hundred day moving average price of $88.40.

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

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK’s payout ratio is presently 73.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Scotiabank cut shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Wells Fargo & Company dropped their price objective on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Finally, Morgan Stanley increased their price objective on ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. One research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.94.

ONEOK 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.