Dai ichi Life Insurance Company Ltd Raises Position in ONEOK, Inc. (NYSE:OKE)

Dai ichi Life Insurance Company Ltd boosted its stake in ONEOK, Inc. (NYSE:OKE) by 142.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,977 shares of the utilities provider’s stock after buying an additional 39,335 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in ONEOK were worth $4,703,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OKE. Fifth Third Bancorp increased its position in shares of ONEOK by 16.2% during the fourth quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after acquiring an additional 3,032 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of ONEOK by 26.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares during the period. ELCO Management Co. LLC boosted its position in shares of ONEOK by 102.3% in the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after purchasing an additional 13,367 shares during the period. Federated Hermes Inc. boosted its position in shares of ONEOK by 31.6% in the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock worth $11,277,000 after purchasing an additional 38,560 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of ONEOK by 11.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,729 shares of the utilities provider’s stock worth $490,000 after purchasing an additional 790 shares during the period. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OKE. US Capital Advisors lowered shares of ONEOK from an “overweight” rating to a “hold” rating in a research report on Wednesday, March 20th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. Truist Financial increased their target price on shares of ONEOK from $71.00 to $81.00 and gave the company a “hold” rating in a research note on Thursday, March 21st. Morgan Stanley increased their target price on shares of ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Finally, Mizuho increased their target price on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.58.

ONEOK Stock Down 0.7 %

Shares of ONEOK stock traded down $0.54 on Thursday, reaching $81.12. The stock had a trading volume of 185,970 shares, compared to its average volume of 2,849,568. The stock has a market capitalization of $47.35 billion, a P/E ratio of 18.99, a P/E/G ratio of 4.47 and a beta of 1.64. ONEOK, Inc. has a 1 year low of $56.19 and a 1 year high of $83.31. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $79.57 and a 200 day moving average price of $73.32.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the previous year, the firm earned $2.34 EPS. As a group, equities research analysts forecast that ONEOK, Inc. will post 4.92 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio is currently 92.09%.

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.