Mitsubishi UFJ Trust & Banking Corp Raises Stake in ONEOK, Inc. $OKE

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 53.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,793,834 shares of the utilities provider’s stock after buying an additional 973,635 shares during the quarter. ONEOK accounts for about 0.5% of Mitsubishi UFJ Trust & Banking Corp’s portfolio, making the stock its 29th largest holding. Mitsubishi UFJ Trust & Banking Corp owned about 0.44% of ONEOK worth $228,061,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Access Investment Management LLC purchased a new position in shares of ONEOK during the second quarter worth $33,000. Financial Network Wealth Advisors LLC grew its position in ONEOK by 2,466.7% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of ONEOK during the 2nd quarter valued at about $42,000. Cheviot Value Management LLC acquired a new position in shares of ONEOK in the 1st quarter valued at about $46,000. Finally, CNB Bank purchased a new stake in shares of ONEOK in the second quarter worth about $51,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Brian L. Derksen acquired 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The shares were purchased at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on OKE shares. Stifel Nicolaus set a $94.00 price objective on ONEOK in a research report on Thursday, October 30th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Thursday, November 6th. Citigroup cut their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Finally, Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.94.

ONEOK Trading Up 1.8%

OKE stock opened at $69.09 on Wednesday. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $118.07. The business’s 50-day moving average is $70.64 and its 200 day moving average is $76.90. The company has a current ratio of 0.90, a quick ratio of 0.46 and a debt-to-equity ratio of 1.44. The stock has a market cap of $43.47 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $9.17 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the business posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Monday, November 3rd. ONEOK’s dividend payout ratio is currently 75.74%.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.