Mitsubishi UFJ Asset Management Co. Ltd. Buys 40,740 Shares of ONEOK, Inc. $OKE

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ONEOK, Inc. (NYSE:OKE) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,232,062 shares of the utilities provider’s stock after buying an additional 40,740 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of ONEOK worth $89,904,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in ONEOK by 0.9% in the third quarter. Vanguard Group Inc. now owns 77,222,590 shares of the utilities provider’s stock valued at $5,634,932,000 after acquiring an additional 711,619 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 2.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after purchasing an additional 613,674 shares during the period. Geode Capital Management LLC lifted its position in ONEOK by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after purchasing an additional 355,751 shares during the period. Invesco Ltd. boosted its stake in shares of ONEOK by 0.6% in the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock valued at $684,617,000 after purchasing an additional 46,892 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of ONEOK during the 2nd quarter worth approximately $562,832,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on OKE shares. Mizuho set a $89.00 price target on shares of ONEOK in a research note on Monday. Wells Fargo & Company dropped their target price on shares of ONEOK from $82.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday. Jefferies Financial Group started coverage on ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target on the stock. Citigroup reduced their price target on ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Finally, Wolfe Research cut ONEOK from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.07.

ONEOK Trading Down 1.6%

NYSE:OKE opened at $82.67 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.75. The business’s 50-day simple moving average is $78.17 and its 200-day simple moving average is $73.98. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $103.64. The stock has a market capitalization of $52.06 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 4.95 and a beta of 0.96.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $8.77 billion. During the same period in the prior year, the business earned $1.57 EPS. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 2nd were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, February 2nd. This represents a $4.28 annualized dividend and a yield of 5.2%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is presently 78.97%.

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.