Dai ichi Life Insurance Company Ltd Grows Holdings in ONEOK, Inc. $OKE

Dai ichi Life Insurance Company Ltd boosted its position in ONEOK, Inc. (NYSE:OKE) by 65.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,412 shares of the utilities provider’s stock after purchasing an additional 10,492 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in ONEOK were worth $2,387,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Bollard Group LLC increased its position in shares of ONEOK by 15.1% during the first quarter. Bollard Group LLC now owns 721,832 shares of the utilities provider’s stock valued at $65,247,000 after acquiring an additional 94,617 shares during the last quarter. Gabelli Funds LLC boosted its position in ONEOK by 0.9% in the first quarter. Gabelli Funds LLC now owns 846,675 shares of the utilities provider’s stock worth $76,531,000 after purchasing an additional 7,175 shares during the last quarter. Morningstar Investment Management LLC boosted its position in ONEOK by 6.2% in the first quarter. Morningstar Investment Management LLC now owns 40,401 shares of the utilities provider’s stock worth $3,652,000 after purchasing an additional 2,366 shares during the last quarter. Compound Planning Inc. bought a new position in ONEOK in the 1st quarter valued at $274,000. Finally, Gibbs Wealth Management purchased a new stake in shares of ONEOK during the 1st quarter valued at $349,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 0.0%

Shares of OKE stock opened at $93.13 on Monday. The stock has a market capitalization of $58.69 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 5.01 and a beta of 0.73. The company’s fifty day simple moving average is $89.48 and its two-hundred day simple moving average is $86.05. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same period in the previous year, the business earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. ONEOK’s dividend payout ratio is 76.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OKE shares. Raymond James Financial reiterated an “outperform” rating and set a $92.00 target price on shares of ONEOK in a research note on Thursday, April 30th. Royal Bank Of Canada increased their price target on shares of ONEOK from $84.00 to $90.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Barclays decreased their price objective on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, July 8th. Wells Fargo & Company lowered their price objective on shares of ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Finally, Freedom Capital upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.44.

ONEOK 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.