Legal & General Group Plc Has $380.79 Million Stake in ONEOK, Inc. $OKE

Legal & General Group Plc grew its position in ONEOK, Inc. (NYSE:OKE) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,218,376 shares of the utilities provider’s stock after acquiring an additional 80,683 shares during the period. Legal & General Group Plc owned 0.83% of ONEOK worth $380,785,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. City Holding Co. bought a new position in ONEOK in the 3rd quarter valued at $28,000. Winnow Wealth LLC bought a new stake in shares of ONEOK during the third quarter worth $28,000. Global Wealth Strategies & Associates bought a new stake in shares of ONEOK during the third quarter worth $29,000. Financial Consulate Inc. acquired a new stake in shares of ONEOK in the third quarter valued at $29,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of ONEOK in the second quarter valued at about $34,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

Shares of OKE stock opened at $85.73 on Thursday. The firm has a market cap of $53.99 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 5.04 and a beta of 0.93. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $103.64. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average price of $80.14 and a 200 day moving average price of $74.62.

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

ONEOK Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upped their price target on shares of ONEOK from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $104.00 target price on shares of ONEOK in a research note on Wednesday, January 28th. JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $87.00 to $83.00 in a research report on Tuesday, January 27th. Scotiabank reissued an “outperform” rating and set a $91.00 price target on shares of ONEOK in a research note on Friday, January 16th. Finally, Mizuho set a $89.00 price target on shares of ONEOK in a report on Monday, February 23rd. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ONEOK presently has an average rating of “Hold” and a consensus target price of $86.47.

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.