Legal & General Group Plc Acquires Shares of 4,485,680 ONEOK, Inc. $OKE

Legal & General Group Plc bought a new position in ONEOK, Inc. (NYSE:OKE) in the second quarter, HoldingsChannel.com reports. The fund bought 4,485,680 shares of the utilities provider’s stock, valued at approximately $389,985,000.

A number of other large investors also recently modified their holdings of the stock. Zions Bancorporation National Association UT raised its position in ONEOK by 73.3% in the 4th quarter. Zions Bancorporation National Association UT now owns 338 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 143 shares during the last quarter. Portus Wealth Advisors LLC bought a new position in ONEOK in the 1st quarter valued at $33,000. Elyxium Wealth LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at $29,000. Wilkerson Advisory Group LLC raised its position in shares of ONEOK by 51.4% during the first quarter. Wilkerson Advisory Group LLC now owns 392 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 133 shares during the last quarter. Finally, Cornerstone Financial Management LLC bought a new stake in shares of ONEOK during the fourth quarter worth $29,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OKE shares. Royal Bank Of Canada lifted their price objective on ONEOK from $84.00 to $90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of ONEOK in a research report on Thursday, August 13th. Morgan Stanley raised their target price on shares of ONEOK from $103.00 to $105.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Freedom Capital upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, TD Cowen boosted their price target on shares of ONEOK from $85.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.94.

ONEOK Stock Down 1.4%

NYSE:OKE opened at $91.74 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $97.90. The stock’s fifty day simple moving average is $90.31 and its 200-day simple moving average is $88.48. The firm has a market capitalization of $57.83 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.59 and a beta of 0.73.

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

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, August 3rd. ONEOK’s dividend payout ratio (DPR) is currently 73.79%.

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.