Brookfield Corp ON Lowers Holdings in ONEOK, Inc. (NYSE:OKE)

Brookfield Corp ON reduced its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,086,093 shares of the utilities provider’s stock after selling 29,439 shares during the quarter. ONEOK accounts for about 0.6% of Brookfield Corp ON’s investment portfolio, making the stock its 25th biggest holding. Brookfield Corp ON owned 0.19% of ONEOK worth $98,976,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OKE. Matrix Trust Co bought a new stake in shares of ONEOK in the 3rd quarter worth $29,000. Quest Partners LLC bought a new stake in shares of ONEOK in the second quarter worth approximately $28,000. Ridgewood Investments LLC bought a new position in ONEOK during the second quarter valued at approximately $31,000. Access Investment Management LLC purchased a new stake in ONEOK in the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. bought a new stake in ONEOK in the 3rd quarter worth approximately $44,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock opened at $108.94 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a market cap of $63.64 billion, a PE ratio of 22.79, a PEG ratio of 5.48 and a beta of 1.69. ONEOK, Inc. has a 12 month low of $65.49 and a 12 month high of $118.07. The stock has a 50 day moving average of $102.06 and a 200 day moving average of $90.78.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business earned $0.99 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is 82.85%.

Analysts Set New Price Targets

OKE has been the topic of a number of research reports. Citigroup raised their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Scotiabank upped their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada lifted their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.00.

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.