Northwestern Mutual Wealth Management Co. Buys 5,257 Shares of ONEOK, Inc. $OKE

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in ONEOK, Inc. by 10.1%, acquiring an additional 5,257 shares, bringing its total to 57,431 shares valued at approximately $5.7 million.
• ONEOK reported earnings of $1.34 per share for the quarter, exceeding expectations, with revenue reaching $8.21 billion, significantly above the projected $7.20 billion.
• The company's quarterly dividend of $1.03 per share was declared, resulting in an annualized payout of $4.12 and a yield of 5.5%.

Northwestern Mutual Wealth Management Co. increased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 10.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,431 shares of the utilities provider's stock after buying an additional 5,257 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in ONEOK were worth $5,698,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of OKE. Merit Financial Group LLC raised its stake in ONEOK by 11.4% during the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after purchasing an additional 1,180 shares during the period. Capital Investment Advisors LLC grew its holdings in ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock valued at $28,774,000 after purchasing an additional 10,957 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of ONEOK by 146.9% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after acquiring an additional 10,728 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of ONEOK by 6.0% in the 4th quarter. Ensign Peak Advisors Inc now owns 340,480 shares of the utilities provider's stock valued at $34,184,000 after purchasing an additional 19,199 shares in the last quarter. Finally, Advisor Resource Council bought a new position in ONEOK during the 1st quarter valued at $511,000. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 0.7%

Shares of NYSE OKE traded up $0.51 during mid-day trading on Monday, hitting $76.40. 2,652,473 shares of the company traded hands, compared to its average volume of 3,623,427. The company has a quick ratio of 0.46, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07. The stock has a market capitalization of $48.12 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.82 and a beta of 1.04. The business has a 50 day moving average of $78.71 and a two-hundred day moving average of $84.85.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.During the same quarter in the prior year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Friday, August 1st. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent research reports. Royal Bank Of Canada lowered their target price on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a report on Wednesday, August 13th. Morgan Stanley decreased their price objective on ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Citigroup decreased their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. TD Cowen started coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Finally, Barclays set a $83.00 price objective on shares of ONEOK in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.60.

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.