D.A. Davidson & CO. cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 35.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,804 shares of the utilities provider’s stock after selling 11,477 shares during the quarter. D.A. Davidson & CO.’s holdings in ONEOK were worth $1,085,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of ONEOK by 28.4% during the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after buying an additional 5,317,251 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of ONEOK by 3.9% during the first quarter. Vanguard Group Inc. now owns 23,195,157 shares of the utilities provider’s stock worth $1,285,939,000 after buying an additional 875,668 shares in the last quarter. State Street Corp grew its holdings in shares of ONEOK by 6.1% during the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock worth $628,143,000 after buying an additional 649,957 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of ONEOK by 6.1% during the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after buying an additional 526,450 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of ONEOK by 25.1% during the second quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock worth $356,012,000 after buying an additional 1,369,438 shares in the last quarter. Institutional investors and hedge funds own 51.26% of the company’s stock.
Shares of ONEOK, Inc. (NYSE OKE) opened at 54.70 on Monday. The stock has a market capitalization of $20.79 billion, a P/E ratio of 34.27 and a beta of 1.32. The company has a 50-day moving average of $53.98 and a 200-day moving average of $52.90. ONEOK, Inc. has a 12-month low of $45.41 and a 12-month high of $59.47.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same quarter in the prior year, the company earned $0.40 EPS. Equities analysts expect that ONEOK, Inc. will post $1.69 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the stock. J P Morgan Chase & Co reiterated a “neutral” rating and set a $58.00 price target on shares of ONEOK in a report on Monday, September 11th. Barclays PLC assumed coverage on shares of ONEOK in a report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target for the company. Jefferies Group LLC reiterated a “hold” rating and set a $52.00 price target (up from $51.00) on shares of ONEOK in a report on Friday, September 1st. BidaskClub upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Argus reiterated a “buy” rating and set a $59.00 price target (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.57.
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ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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