Dynamic Technology Lab Private Ltd Invests $797,000 in ONEOK, Inc. $OKE

Dynamic Technology Lab Private Ltd acquired a new position in ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, HoldingsChannel reports. The fund acquired 10,924 shares of the utilities provider’s stock, valued at approximately $797,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OKE. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of ONEOK by 1.5% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,748 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 190 shares during the period. CreativeOne Wealth LLC raised its stake in shares of ONEOK by 6.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 20,347 shares of the utilities provider’s stock valued at $1,485,000 after purchasing an additional 1,313 shares during the period. Guardian Partners Inc. purchased a new stake in ONEOK during the 3rd quarter worth about $781,000. Ameriflex Group Inc. boosted its stake in ONEOK by 13.0% in the 3rd quarter. Ameriflex Group Inc. now owns 1,534 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 176 shares during the period. Finally, First Trust Advisors LP boosted its stake in ONEOK by 12.1% in the 3rd quarter. First Trust Advisors LP now owns 1,674,559 shares of the utilities provider’s stock worth $122,193,000 after purchasing an additional 180,887 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho set a $89.00 price target on ONEOK in a research report on Monday, February 23rd. Wolfe Research lowered shares of ONEOK from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 25th. Wells Fargo & Company reduced their price objective on shares of ONEOK from $82.00 to $79.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Scotiabank reaffirmed an “outperform” rating and set a $91.00 target price on shares of ONEOK in a report on Friday, January 16th. Finally, UBS Group lowered their target price on shares of ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, January 22nd. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus price target of $86.47.

ONEOK Stock Down 1.3%

Shares of NYSE OKE opened at $85.84 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average of $79.67 and a 200-day moving average of $74.48. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 5.13 and a beta of 0.93. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. ONEOK had a net margin of 10.09% and a return on equity of 15.29%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. During the same period last year, the firm posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is an increase from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 5.0%. ONEOK’s dividend payout ratio is 78.97%.

ONEOK Company 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.