Metropolitan Life Insurance Co. NY lowered its position in ONEOK, Inc. (NYSE:OKE) by 38.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,003 shares of the utilities provider’s stock after selling 111,569 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in ONEOK were worth $9,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Delpha Capital Management LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $134,000. Tower Research Capital LLC TRC raised its stake in shares of ONEOK by 562.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 2,322 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in shares of ONEOK during the third quarter valued at approximately $150,000. Sun Life Financial INC raised its stake in shares of ONEOK by 82.1% during the third quarter. Sun Life Financial INC now owns 2,796 shares of the utilities provider’s stock valued at $155,000 after acquiring an additional 1,261 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in shares of ONEOK during the third quarter valued at approximately $169,000. 68.50% of the stock is owned by institutional investors and hedge funds.
ONEOK, Inc. (OKE) opened at $57.81 on Friday. The company has a market cap of $23,258.32, a P/E ratio of 33.51, a P/E/G ratio of 2.86 and a beta of 1.26. ONEOK, Inc. has a 12 month low of $47.14 and a 12 month high of $61.36. The company has a quick ratio of 0.50, a current ratio of 0.66 and a debt-to-equity ratio of 1.42.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 26th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. ONEOK had a net margin of 3.19% and a return on equity of 10.46%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the company earned $0.43 earnings per share. analysts forecast that ONEOK, Inc. will post 2.48 EPS for the current fiscal year.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of ONEOK stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $56.70, for a total value of $124,740.00. Following the transaction, the vice president now directly owns 31,244 shares of the company’s stock, valued at $1,771,534.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.
Several research firms have recently weighed in on OKE. Credit Suisse Group assumed coverage on shares of ONEOK in a research note on Monday, January 8th. They set an “outperform” rating and a $62.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of ONEOK from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. BMO Capital Markets set a $68.00 price objective on shares of ONEOK and gave the stock a “buy” rating in a research note on Thursday, March 8th. Mizuho reissued a “hold” rating and issued a $61.00 price objective on shares of ONEOK in a research note on Tuesday, January 23rd. Finally, UBS reissued a “buy” rating and issued a $72.00 price objective (up previously from $70.00) on shares of ONEOK in a research note on Friday, March 2nd. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.29.
TRADEMARK VIOLATION NOTICE: “Metropolitan Life Insurance Co. NY Has $9.35 Million Holdings in ONEOK, Inc. (OKE)” was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://ledgergazette.com/2018/03/17/metropolitan-life-insurance-co-ny-has-9-35-million-holdings-in-oneok-inc-oke.html.
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.
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.