Legal & General Group Plc Increases Stake in ONEOK, Inc.

The investment firm now owns over 5.2 million shares of the utilities provider.

Mar. 12, 2026 at 10:21am

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Legal & General Group Plc, a major investment management firm, has increased its stake in ONEOK, Inc. (NYSE: OKE) by 1.6% in the third quarter, according to a recent SEC filing. The firm now owns 5,218,376 shares of the utilities provider's stock, valued at approximately $380.79 million.

Why it matters

ONEOK is a key player in the midstream energy sector, operating natural gas and natural gas liquids pipelines, processing facilities, and storage assets. Legal & General's increased investment signals their confidence in ONEOK's long-term growth potential and the firm's belief in the company's strategic importance within the energy infrastructure landscape.

The details

According to the filing, Legal & General Group Plc acquired an additional 80,683 shares of ONEOK during the third quarter, bringing their total ownership to 5,218,376 shares. This represents approximately 0.83% of ONEOK's outstanding stock. The investment firm's increased stake in ONEOK comes as the company continues to execute on its strategic initiatives, including expanding its pipeline network and processing capabilities to meet growing demand for natural gas and natural gas liquids.

  • Legal & General Group Plc increased its stake in ONEOK during the third quarter of 2026.

The players

Legal & General Group Plc

A major global investment management firm headquartered in the United Kingdom, with over $1.5 trillion in assets under management.

ONEOK, Inc.

A publicly traded midstream energy company headquartered in Tulsa, Oklahoma, that owns and operates a portfolio of natural gas and natural gas liquids pipelines, processing facilities, and storage assets.

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The takeaway

Legal & General Group's increased investment in ONEOK reflects the firm's confidence in the company's long-term growth prospects and its strategic importance within the midstream energy sector. This move underscores the continued investor interest in well-positioned energy infrastructure companies that are poised to benefit from the ongoing shift in energy demand and supply dynamics.