BROOKFIELD Corp ON Sells 503,636 Shares of ONEOK, Inc. (NYSE:OKE)

BROOKFIELD Corp ON decreased its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 582,457 shares of the utilities provider's stock after selling 503,636 shares during the quarter. BROOKFIELD Corp ON owned approximately 0.10% of ONEOK worth $58,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of OKE. Barclays PLC boosted its position in ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock valued at $172,131,000 after purchasing an additional 262,486 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of ONEOK by 61.4% during the 3rd quarter. Synovus Financial Corp now owns 4,265 shares of the utilities provider's stock valued at $389,000 after buying an additional 1,622 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of ONEOK by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 710,314 shares of the utilities provider's stock valued at $64,731,000 after buying an additional 24,193 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of ONEOK by 98.1% in the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after buying an additional 260 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in ONEOK by 1,219.3% in the fourth quarter. Nordea Investment Management AB now owns 501,636 shares of the utilities provider's stock worth $50,289,000 after buying an additional 463,614 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on OKE shares. Barclays dropped their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Scotiabank reduced their price target on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 29th. Citigroup lowered their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Morgan Stanley lifted their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $105.00.

ONEOK Stock Performance

Shares of NYSE OKE traded up $0.08 during mid-day trading on Friday, hitting $82.33. The company had a trading volume of 2,884,754 shares, compared to its average volume of 3,242,426. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07. The firm has a market cap of $51.43 billion, a P/E ratio of 17.22, a PEG ratio of 3.77 and a beta of 1.01. The business's 50-day simple moving average is $89.10 and its 200-day simple moving average is $98.05. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business posted $1.09 EPS. As a group, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.00%. The ex-dividend date is Monday, May 5th. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

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.