Legal & General Group Plc Buys 80,683 Shares of ONEOK, Inc. $OKE

Legal & General Group Plc increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% in the third quarter, Holdings Channel reports. The firm owned 5,218,376 shares of the utilities provider’s stock after buying an additional 80,683 shares during the quarter. Legal & General Group Plc’s holdings in ONEOK were worth $380,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. City Holding Co. bought a new position in ONEOK during the third quarter worth about $28,000. Winnow Wealth LLC acquired a new position in shares of ONEOK during the 3rd quarter worth about $28,000. Global Wealth Strategies & Associates bought a new stake in shares of ONEOK in the 3rd quarter valued at about $29,000. Financial Consulate Inc. acquired a new stake in shares of ONEOK in the 3rd quarter valued at approximately $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in ONEOK during the 2nd quarter worth approximately $34,000. Institutional investors own 69.13% of the company’s stock.

Analysts Set New Price Targets

OKE has been the subject of a number of analyst reports. Wells Fargo & Company decreased their price objective on shares of ONEOK from $82.00 to $79.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $87.00 to $83.00 in a report on Tuesday, January 27th. Morgan Stanley reissued an “overweight” rating and issued a $104.00 price target on shares of ONEOK in a report on Wednesday, January 28th. Mizuho set a $89.00 price objective on shares of ONEOK in a research report on Monday, February 23rd. Finally, Jefferies Financial Group assumed coverage on ONEOK in a research note on Tuesday, January 20th. They set a “hold” rating and a $80.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, ONEOK presently has an average rating of “Hold” and an average price target of $86.47.

ONEOK Price Performance

NYSE OKE opened at $85.73 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.56 and a current ratio of 0.71. The stock has a market cap of $53.99 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 5.04 and a beta of 0.93. The business has a 50 day simple moving average of $80.14 and a 200 day simple moving average of $74.62. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $8.77 billion. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. During the same quarter in the previous year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Analysts anticipate 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 5.0%. This is an increase from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is presently 78.97%.

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.