Northwestern Mutual Wealth Management Co. Has $16.73 Million Stake in ONEOK, Inc. $OKE

Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 197.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,606 shares of the utilities provider’s stock after purchasing an additional 151,185 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ONEOK were worth $16,729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Brighton Jones LLC increased its holdings in ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Empowered Funds LLC increased its stake in shares of ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after buying an additional 137 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of ONEOK in the 1st quarter valued at $216,000. Federated Hermes Inc. increased its stake in shares of ONEOK by 14.0% in the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after buying an additional 383 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of ONEOK by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after buying an additional 4,902 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Stock Up 0.1%

Shares of ONEOK stock opened at $84.05 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 12 month low of $64.02 and a 12 month high of $96.07. The business has a fifty day simple moving average of $88.85 and a 200 day simple moving average of $81.35. The stock has a market cap of $52.95 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 6.23 and a beta of 0.74.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the firm earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Research analysts predict that ONEOK, Inc. will post 5.76 EPS for the current year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.1%. ONEOK’s payout ratio is 76.29%.

Wall Street Analyst Weigh In

OKE has been the subject of several research reports. Mizuho set a $89.00 target price on ONEOK in a research note on Monday, February 23rd. Citigroup lifted their target price on ONEOK from $95.00 to $97.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial lifted their target price on ONEOK from $91.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Morgan Stanley lifted their target price on ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $91.88.

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.