BROOKFIELD Corp ON Raises Stake in ONEOK, Inc. $OKE

Key Points

• BROOKFIELD Corp ON has increased its stake in ONEOK, Inc. by 119.8%, acquiring 697,748 shares in the first quarter, bringing its total holdings to approximately 1.28 million shares.
• Institutional ownership of ONEOK stock is significant, with major contributions from firms like Vanguard and Wellington Management, owning 69.13% of the company's shares combined.
• ONEOK recently declared a quarterly dividend of $1.03, resulting in an annualized dividend yield of 5.6% and a payout ratio of 80.31%.

BROOKFIELD Corp ON boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 119.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,280,205 shares of the utilities provider's stock after purchasing an additional 697,748 shares during the quarter. ONEOK comprises 0.7% of BROOKFIELD Corp ON's holdings, making the stock its 21st largest holding. BROOKFIELD Corp ON owned 0.20% of ONEOK worth $127,022,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. First Hawaiian Bank raised its position in shares of ONEOK by 4.0% during the first quarter. First Hawaiian Bank now owns 24,119 shares of the utilities provider's stock worth $2,393,000 after purchasing an additional 936 shares during the period. Inspire Investing LLC grew its position in ONEOK by 17.8% in the 1st quarter. Inspire Investing LLC now owns 4,572 shares of the utilities provider's stock valued at $454,000 after purchasing an additional 691 shares during the period. Strs Ohio bought a new position in shares of ONEOK in the first quarter valued at $7,442,000. Wealth Management Associates Inc. lifted its stake in shares of ONEOK by 5.7% in the first quarter. Wealth Management Associates Inc. now owns 5,060 shares of the utilities provider's stock valued at $502,000 after buying an additional 275 shares in the last quarter. Finally, WBI Investments LLC bought a new position in shares of ONEOK in the first quarter valued at $541,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

OKE stock traded down $0.20 during midday trading on Friday, hitting $73.10. The company's stock had a trading volume of 2,452,189 shares, compared to its average volume of 3,110,274. The stock's 50-day moving average price is $77.18 and its 200 day moving average price is $83.16. 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 $70.63 and a 1 year high of $118.07. The stock has a market cap of $46.04 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.74 and a beta of 1.04.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Friday, August 1st were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, August 1st. ONEOK's dividend payout ratio is currently 80.31%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OKE shares. TD Cowen started coverage on shares of ONEOK in a research note on Monday, July 7th. They issued a "hold" rating and a $91.00 price objective on the stock. Scotiabank set a $92.00 price target on ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. upped their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Mizuho decreased their price target on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.60.

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.