Visionary Asset Management Inc. reduced its position in ONEOK, Inc. (NYSE:OKE) by 9.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,505 shares of the utilities provider’s stock after selling 5,731 shares during the period. Visionary Asset Management Inc.’s holdings in ONEOK were worth $3,076,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in OKE. Strs Ohio raised its holdings in ONEOK by 20.8% in the 2nd quarter. Strs Ohio now owns 13,864 shares of the utilities provider’s stock worth $723,000 after acquiring an additional 2,390 shares during the last quarter. TD Asset Management Inc. raised its holdings in ONEOK by 2.9% in the 2nd quarter. TD Asset Management Inc. now owns 129,390 shares of the utilities provider’s stock worth $6,749,000 after acquiring an additional 3,601 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in ONEOK by 2.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,285,153 shares of the utilities provider’s stock worth $67,034,000 after acquiring an additional 25,846 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in ONEOK by 18.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 25,091 shares of the utilities provider’s stock worth $1,349,000 after acquiring an additional 3,884 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in ONEOK by 96.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 25,730 shares of the utilities provider’s stock worth $1,342,000 after acquiring an additional 12,658 shares during the last quarter. Institutional investors own 71.02% of the company’s stock.
In other ONEOK news, Director Brian L. Derksen acquired 1,800 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was purchased at an average price of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.
Shares of ONEOK, Inc. (OKE) traded down $0.48 during mid-day trading on Friday, hitting $52.74. 2,280,200 shares of the stock were exchanged, compared to its average volume of 3,207,960. ONEOK, Inc. has a 12-month low of $47.14 and a 12-month high of $59.47. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. The company has a market cap of $20,406.50, a P/E ratio of 33.26, a price-to-earnings-growth ratio of 3.41 and a beta of 1.26.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm earned $0.43 EPS. sell-side analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the stock. UBS lifted their target price on shares of ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $62.00 target price on shares of ONEOK and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Argus reaffirmed a “buy” rating and issued a $59.00 target price (up previously from $55.00) on shares of ONEOK in a research report on Thursday, August 24th. Barclays assumed coverage on shares of ONEOK in a research report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $55.00 target price on shares of ONEOK in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $59.07.
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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