Meiji Yasuda Asset Management Co Ltd. Grows Stock Position in ONEOK, Inc. (NYSE:OKE)

Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 108.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,122 shares of the utilities provider’s stock after purchasing an additional 10,486 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in ONEOK were worth $1,641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Corient Private Wealth LLC increased its holdings in ONEOK by 28.8% in the 4th quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock worth $11,154,000 after acquiring an additional 35,518 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in ONEOK by 142.3% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 66,977 shares of the utilities provider’s stock worth $4,703,000 after acquiring an additional 39,335 shares in the last quarter. Enterprise Financial Services Corp purchased a new stake in ONEOK in the 4th quarter worth approximately $200,000. Allstate Corp purchased a new stake in ONEOK in the 4th quarter worth approximately $200,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in ONEOK by 4.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 142,426 shares of the utilities provider’s stock worth $10,001,000 after acquiring an additional 5,867 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.1 %

NYSE OKE opened at $93.77 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The company has a market capitalization of $54.77 billion, a P/E ratio of 21.81, a P/E/G ratio of 4.49 and a beta of 1.67. ONEOK, Inc. has a one year low of $60.58 and a one year high of $95.28. The stock has a 50 day moving average price of $87.05 and a 200-day moving average price of $82.30.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the company earned $1.04 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is 92.09%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on OKE shares. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a report on Monday. Wells Fargo & Company increased their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. Truist Financial increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.38.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

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.