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

BROOKFIELD Corp ON cut its stake in ONEOK, Inc. (NYSE:OKE) by 15.2% in the first quarter, Holdings Channel.com reports. The firm owned 749,150 shares of the utilities provider’s stock after selling 134,346 shares during the quarter. BROOKFIELD Corp ON’s holdings in ONEOK were worth $67,716,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Castleark Management LLC raised its stake in shares of ONEOK by 33.9% in the 1st quarter. Castleark Management LLC now owns 34,458 shares of the utilities provider’s stock valued at $3,115,000 after purchasing an additional 8,720 shares during the period. Gateway Wealth Partners LLC raised its position in ONEOK by 130.0% in the 1st quarter. Gateway Wealth Partners LLC now owns 14,798 shares of the utilities provider’s stock valued at $1,338,000 after buying an additional 8,364 shares during the last quarter. Royal Capital Wealth Management LLC bought a new stake in ONEOK in the 1st quarter valued at approximately $260,000. Quadcap Wealth Management LLC lifted its stake in ONEOK by 2.1% in the 1st quarter. Quadcap Wealth Management LLC now owns 7,967 shares of the utilities provider’s stock valued at $720,000 after acquiring an additional 162 shares in the last quarter. Finally, Cypress Capital Group boosted its position in ONEOK by 721.8% during the 1st quarter. Cypress Capital Group now owns 30,406 shares of the utilities provider’s stock worth $2,748,000 after acquiring an additional 26,706 shares during the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKE. Morgan Stanley raised their target price on shares of ONEOK from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. Wall Street Zen raised ONEOK from a “sell” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of ONEOK from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, May 18th. Jefferies Financial Group upped their price objective on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, April 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $92.00 target price on shares of ONEOK in a report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.44.

ONEOK Trading Down 0.0%

Shares of ONEOK stock opened at $93.13 on Monday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a 12-month low of $64.02 and a 12-month high of $96.07. The company has a market capitalization 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 firm’s 50-day moving average price is $89.48 and its two-hundred day moving average price is $86.05.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. On average, analysts forecast that ONEOK, Inc. will post 5.68 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, August 3rd. ONEOK’s payout ratio is currently 76.29%.

About ONEOK

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.