Northwestern Mutual Wealth Management Co. Increases Holdings in ONEOK, Inc. $OKE

Northwestern Mutual Wealth Management Co. raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 268.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 281,560 shares of the utilities provider’s stock after buying an additional 205,139 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in ONEOK were worth $20,695,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in OKE. Brighton Jones LLC raised its stake in ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC raised its stake in ONEOK by 0.8% during the first 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 last quarter. Acadian Asset Management LLC purchased a new position in ONEOK during the first quarter valued at $216,000. Federated Hermes Inc. increased its holdings 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 worth $255,000 after purchasing an additional 383 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings 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 worth $10,640,000 after purchasing an additional 4,902 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE opened at $95.15 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.71 and a quick ratio of 0.56. ONEOK, Inc. has a one year low of $64.02 and a one year high of $95.65. The firm has a market capitalization of $59.95 billion, a P/E ratio of 16.96, a PEG ratio of 6.82 and a beta of 0.78. The business has a fifty day moving average of $88.09 and a 200 day moving average of $80.02.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.76 EPS for the current year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 4th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, May 4th. ONEOK’s payout ratio is currently 76.29%.

Wall Street Analysts Forecast Growth

OKE has been the subject of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. TD Cowen lifted their target price on ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Royal Bank Of Canada lifted their target price on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a report on Thursday, March 19th. Jefferies Financial Group lifted their target price on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $91.88.

About ONEOK

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.