ONEOK, Inc. (NYSE:OKE) Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON lessened its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 46.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 582,457 shares of the utilities provider's stock after selling 503,636 shares during the period. BROOKFIELD Corp ON owned 0.10% of ONEOK worth $58,479,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of ONEOK during the fourth quarter worth $539,554,000. Wellington Management Group LLP grew its holdings in ONEOK by 433.4% during the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after buying an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of ONEOK by 240.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after acquiring an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ONEOK during the 4th quarter valued at approximately $182,694,000. Finally, ClearBridge Investments Ltd purchased a new position in shares of ONEOK in the fourth quarter valued at $177,045,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on OKE. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target for the company in a research report on Monday, February 10th. Stifel Nicolaus reduced their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley upped their price target on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company decreased their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, Barclays reduced their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average price target of $105.00.

ONEOK Stock Up 0.1 %

OKE traded up $0.08 during trading on Friday, hitting $82.33. The stock had a trading volume of 2,884,754 shares, compared to its average volume of 3,248,639. The stock has a 50 day simple moving average of $89.10 and a two-hundred day simple moving average of $98.06. The company has a market capitalization of $51.43 billion, a PE ratio of 17.22, a PEG ratio of 3.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a twelve month low of $75.48 and a twelve month high of $118.07.

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

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, May 5th will be given a dividend of $1.03 per share. 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 is presently 80.47%.

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.