Mitsubishi UFJ Trust & Banking Corp Decreases Stock Holdings in ONEOK, Inc. $OKE

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,309,312 shares of the utilities provider’s stock after selling 335,369 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in ONEOK were worth $200,772,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC raised its stake in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC boosted its stake in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in ONEOK during the 1st quarter worth approximately $216,000. Federated Hermes Inc. grew its position in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after purchasing an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in 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 purchasing an additional 4,902 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKE. Raymond James Financial reaffirmed an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a report on Thursday, April 30th. Truist Financial upped their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research report on Monday, May 4th. TD Cowen raised their target price on ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Wells Fargo & Company lowered their price target on ONEOK from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Finally, Freedom Capital upgraded ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $91.81.

ONEOK Stock Performance

NYSE OKE opened at $94.99 on Friday. The firm has a market capitalization of $59.88 billion, a P/E ratio of 16.38, a PEG ratio of 4.95 and a beta of 0.73. The stock has a 50-day simple moving average of $89.48 and a two-hundred day simple moving average of $87.61. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $96.07.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.07. The firm had revenue of $12.05 billion during the quarter, compared to analysts’ expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period in the previous year, the business posted $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.87 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend 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.