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

Northwestern Mutual Wealth Management Co. increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 13.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,424 shares of the utilities provider’s stock after acquiring an additional 7,993 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in ONEOK were worth $5,341,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of OKE. Financial Network Wealth Advisors LLC grew 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 valued at $38,000 after purchasing an additional 370 shares during the period. Access Investment Management LLC purchased a new position in ONEOK during the second quarter worth about $33,000. Trust Co. of Toledo NA OH acquired a new stake in ONEOK in the 2nd quarter worth about $42,000. MTM Investment Management LLC purchased a new stake in ONEOK in the 2nd quarter valued at about $44,000. Finally, CNB Bank acquired a new position in shares of ONEOK during the 2nd quarter valued at about $51,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price 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 approximately $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

ONEOK Trading Down 0.7%

NYSE OKE opened at $73.15 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. ONEOK, Inc. has a one year low of $64.02 and a one year high of $111.55. The company has a 50-day simple moving average of $70.01 and a 200-day simple moving average of $75.53. The firm has a market capitalization of $46.03 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) 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 last year, the company posted $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 3rd were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is presently 75.74%.

Wall Street Analyst Weigh In

OKE has been the topic of several research analyst reports. Morgan Stanley decreased their target price on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Barclays dropped their price target on shares of ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Argus upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Thursday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of ONEOK in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $72.00 price target on shares of ONEOK in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

ONEOK Company 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.