Nomura Asset Management Co. Ltd. Has $17.50 Million Stake in ONEOK, Inc. $OKE

Nomura Asset Management Co. Ltd. reduced its stake in ONEOK, Inc. (NYSE:OKE) by 11.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 214,432 shares of the utilities provider’s stock after selling 28,412 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in ONEOK were worth $17,504,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new position in ONEOK in the 2nd quarter valued at $33,000. Financial Network Wealth Advisors LLC increased its position in shares of ONEOK by 2,466.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the period. Trust Co. of Toledo NA OH acquired a new position in ONEOK in the second quarter valued at about $42,000. MTM Investment Management LLC bought a new stake in ONEOK during the second quarter worth about $44,000. Finally, Cheviot Value Management LLC acquired a new stake in ONEOK during the first quarter worth about $46,000. Institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Brian L. Derksen bought 2,500 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $66.00 per share, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.20% of the company’s stock.

ONEOK Price Performance

Shares of NYSE:OKE opened at $69.46 on Thursday. ONEOK, Inc. has a one year low of $64.02 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The company has a market cap of $43.70 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 2.62 and a beta of 1.06. The firm has a 50 day simple moving average of $70.22 and a 200 day simple moving average of $76.33.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend was Monday, November 3rd. ONEOK’s dividend payout ratio is presently 75.74%.

Analyst Ratings Changes

Several equities analysts have recently commented on OKE shares. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Thursday, November 6th. Morgan Stanley decreased their price objective on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. TD Cowen cut their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price (down previously from $100.00) on shares of ONEOK in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.27.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.