Northwestern Mutual Wealth Management Co. Has $9.03 Million Stake in ONEOK, Inc. $OKE

Key Points

• Northwestern Mutual Wealth Management Co. cut its ONEOK stake by 55.6% in the second quarter, selling 129,923 shares and retaining 103,903 shares valued at approximately $9.03 million. Institutional investors and hedge funds collectively own 69.13% of OKE.
• ONEOK recently agreed to acquire Brazos Midstream’s natural-gas assets for approximately $4.425 billion, while Apollo’s $9 billion minority equity investment will help fund the deal and reduce about $5 billion of debt.
• ONEOK beat quarterly earnings expectations with EPS of $1.53 versus $1.46 forecast and pays a quarterly dividend of $1.07, or a 4.5% annualized yield. Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and an average price target of $94.81.

Northwestern Mutual Wealth Management Co. trimmed its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 55.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,903 shares of the utilities provider's stock after selling 129,923 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in ONEOK were worth $9,033,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Brighton Jones LLC lifted its stake in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after buying an additional 8,834 shares during the last quarter. Empowered Funds LLC raised its holdings in ONEOK by 0.8% in the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock worth $1,782,000 after acquiring an additional 137 shares during the period. Acadian Asset Management LLC acquired a new position in ONEOK during the 1st quarter worth $216,000. Federated Hermes Inc. lifted its position in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider's stock worth $255,000 after acquiring an additional 383 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in ONEOK by 3.9% during the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider's stock valued at $10,640,000 after acquiring an additional 4,902 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OKE shares. US Capital Advisors lowered ONEOK from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, August 20th. Jefferies Financial Group increased their target price on ONEOK from $95.00 to $105.00 and gave the company a "hold" rating in a research note on Wednesday. Freedom Capital raised ONEOK from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Wall Street Zen raised ONEOK from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, UBS Group set a $105.00 price target on ONEOK in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $94.81.

Key ONEOK News

Here are the key news stories impacting ONEOK this week:

• Positive Sentiment: Permian Basin expansion: ONEOK agreed to acquire Brazos Midstream’s natural-gas gathering and processing assets for approximately $4.425 billion in cash. The transaction expands ONEOK’s Midland Basin footprint and should increase exposure to production growth in the Permian. ONEOK to Grow Midland Midstream Footprint with Brazos Acquisition
• Positive Sentiment: Funding includes debt reduction: Apollo is providing a $9 billion nonvoting minority equity investment. ONEOK plans to use roughly $5 billion of the proceeds to reduce existing debt, which could help offset the acquisition’s leverage impact and improve financial flexibility. ONEOK Doubles Down on the Permian with $4.43 Billion Brazos Acquisition
• Positive Sentiment: Strong earnings backdrop: ONEOK recently exceeded quarterly EPS expectations, reporting $1.53 versus the $1.46 consensus estimate, while revenue also surpassed forecasts. The earnings beat and favorable midstream industry outlook have helped support upward share-price momentum. Why Is Oneok Up 9.2% Since Last Earnings Report?
• Neutral Sentiment: Mixed analyst view: JPMorgan raised its price target from $95 to $106 but maintained a neutral rating, while Scotiabank reaffirmed its hold rating. Other analyst commentary also describes sentiment toward ONEOK as divided, suggesting limited consensus on near-term upside. Scotiabank Reaffirms Hold Rating
• Negative Sentiment: Execution and leverage risks: The sizable Brazos purchase increases integration and capital-allocation demands. Although Apollo’s investment will fund debt reduction, investors may remain concerned about transaction execution, balance-sheet leverage and the potential effect of issuing minority equity.

ONEOK Trading Up 0.4%

Shares of OKE stock opened at $96.08 on Thursday. The firm has a fifty day moving average of $91.43 and a 200-day moving average of $89.00. The stock has a market cap of $60.57 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 2.67 and a beta of 0.74. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $99.85. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to analysts' expectations of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter in the previous year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 3rd. ONEOK's dividend payout ratio is 73.79%.

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.

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