BROOKFIELD Corp ON Sells 134,346 Shares of ONEOK, Inc. $OKE

Key Points

• BROOKFIELD Corp ON reduced its ONEOK position by 15.2%, selling 134,346 shares in the first quarter and retaining 749,150 shares valued at approximately $67.7 million. Institutional investors collectively own 69.13% of ONEOK.
• Analyst sentiment is mixed, with eight Buy ratings and ten Holds. ONEOK has a consensus rating of Hold and an average price target of $92.44, below its reported opening price of $93.13.
• ONEOK reported quarterly EPS of $1.23, missing the $1.30 consensus estimate, but revenue of $9.62 billion exceeded expectations. The company declared a quarterly dividend of $1.07 per share, equivalent to a 4.6% annualized yield.

BROOKFIELD Corp ON lowered its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 15.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 749,150 shares of the utilities provider's stock after selling 134,346 shares during the quarter. BROOKFIELD Corp ON owned approximately 0.12% of ONEOK worth $67,716,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OKE. Brighton Jones LLC grew its position in shares of ONEOK by 137.1% during the 4th 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 period. Empowered Funds LLC raised its stake in shares of ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock worth $1,782,000 after buying an additional 137 shares during the last quarter. Acadian Asset Management LLC acquired a new position in ONEOK in the first quarter valued at approximately $216,000. Federated Hermes Inc. lifted its holdings in ONEOK by 14.0% in the second quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider's stock valued at $255,000 after buying an additional 383 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in ONEOK by 3.9% in 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 last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup lifted their target price on shares of ONEOK from $95.00 to $97.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Morgan Stanley raised their price target on ONEOK from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price objective on ONEOK from $91.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, May 8th. Barclays dropped their price objective on ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a report on Wednesday, July 8th. Finally, Jefferies Financial Group increased their target price on ONEOK from $98.00 to $100.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of "Hold" and a consensus target price of $92.44.

ONEOK Stock Down 0.0%

NYSE:OKE opened at $93.13 on Monday. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $96.07. The company has a current ratio of 0.71, a quick ratio of 0.56 and a debt-to-equity ratio of 1.37. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 5.01 and a beta of 0.73. The stock has a 50-day moving average price of $89.48 and a two-hundred day moving average price of $86.05.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.06% and a net margin of 10.03%.During the same quarter last year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, equities analysts expect that ONEOK, Inc. will post 5.68 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, August 3rd. ONEOK's dividend payout ratio is presently 76.29%.

ONEOK 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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