The Manufacturers Life Insurance Company Acquires New Stake in ONEOK, Inc. $OKE

The Manufacturers Life Insurance Company acquired a new stake in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 798,176 shares of the utilities provider’s stock, valued at approximately $69,393,000.

A number of other large investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT boosted its holdings in shares of ONEOK by 73.3% in the fourth quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 143 shares in the last quarter. Elyxium Wealth LLC purchased a new position in ONEOK during the fourth quarter worth about $29,000. Cornerstone Financial Management LLC purchased a new position in ONEOK during the fourth quarter worth about $29,000. Portus Wealth Advisors LLC acquired a new stake in ONEOK in the first quarter valued at about $33,000. Finally, Wilkerson Advisory Group LLC lifted its position in ONEOK by 51.4% in the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.4%

Shares of OKE opened at $91.74 on Wednesday. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $97.90. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $57.83 billion, a P/E ratio of 15.82, a PEG ratio of 2.59 and a beta of 0.73. The firm’s 50-day moving average is $90.31 and its two-hundred day moving average is $88.48.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.07. The company had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same period last year, the firm earned $1.34 EPS. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 annualized dividend and a yield of 4.7%. ONEOK’s payout ratio is currently 73.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on OKE shares. Wells Fargo & Company dropped their target price on ONEOK from $100.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. US Capital Advisors cut ONEOK from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, August 20th. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a report on Thursday, August 13th. Finally, Barclays cut their price objective on ONEOK from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.94.

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.