Resona Asset Management Co. Ltd. Decreases Position in ONEOK, Inc. $OKE

Resona Asset Management Co. Ltd. trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,830 shares of the utilities provider’s stock after selling 8,175 shares during the period. Resona Asset Management Co. Ltd.’s holdings in ONEOK were worth $14,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of OKE. City Holding Co. purchased a new stake in ONEOK during the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates purchased a new stake in shares of ONEOK during the third quarter valued at approximately $29,000. Financial Consulate Inc. bought a new position in shares of ONEOK in the third quarter worth approximately $29,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the second quarter worth $33,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of ONEOK in the second quarter worth $34,000. 69.13% of the stock is owned by institutional investors.

ONEOK Price Performance

OKE stock opened at $78.02 on Monday. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.75. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $105.86. The firm has a 50-day moving average of $73.12 and a 200 day moving average of $73.44. The company has a market cap of $49.09 billion, a P/E ratio of 14.34, a PEG ratio of 4.42 and a beta of 0.94.

ONEOK (NYSE:OKE) last posted 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. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The firm had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.5%. This is a positive change from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, February 2nd. ONEOK’s dividend payout ratio is currently 75.74%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Citigroup dropped their price target on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Thursday, November 6th. Jefferies Financial Group assumed coverage on ONEOK in a report on Tuesday, January 20th. They set a “hold” rating and a $80.00 price target on the stock. Scotiabank reaffirmed an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research report on Friday, January 16th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $88.56.

Insider Transactions at ONEOK

In other news, Director Brian L. Derksen acquired 2,500 shares of the stock in a transaction on Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.