Flinton Capital Management LLC cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 49.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,184 shares of the utilities provider’s stock after selling 15,640 shares during the period. Flinton Capital Management LLC’s holdings in ONEOK were worth $865,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. boosted its position in shares of ONEOK by 269.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after buying an additional 9,737,701 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of ONEOK by 184.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after buying an additional 6,148,494 shares during the last quarter. Neuberger Berman Group LLC boosted its position in ONEOK by 3.3% in the third quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock worth $520,782,000 after purchasing an additional 300,031 shares during the last quarter. Harvest Fund Advisors LLC purchased a new position in ONEOK in the third quarter worth about $414,256,000. Finally, Clearbridge Investments LLC boosted its position in ONEOK by 9.0% in the fourth quarter. Clearbridge Investments LLC now owns 4,404,994 shares of the utilities provider’s stock worth $235,447,000 after purchasing an additional 362,340 shares during the last quarter. 68.44% of the stock is currently owned by institutional investors.
In other news, VP Sheppard F. Miers III sold 2,200 shares of ONEOK stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.70, for a total transaction of $124,740.00. Following the transaction, the vice president now directly owns 31,244 shares of the company’s stock, valued at approximately $1,771,534.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.
ONEOK stock opened at $57.81 on Monday. ONEOK, Inc. has a 12-month low of $47.14 and a 12-month high of $61.36. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.50 and a current ratio of 0.66. The firm has a market capitalization of $23,738.76, a PE ratio of 34.21, a PEG ratio of 2.92 and a beta of 1.26.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the previous year, the firm earned $0.43 EPS. sell-side analysts predict that ONEOK, Inc. will post 2.48 earnings per share for the current year.
Several research analysts have issued reports on OKE shares. Robert W. Baird set a $55.00 target price on ONEOK and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Royal Bank of Canada raised ONEOK from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. BMO Capital Markets reissued a “buy” rating and issued a $64.00 target price on shares of ONEOK in a research report on Tuesday, January 16th. Stifel Nicolaus reissued a “hold” rating and issued a $61.00 target price (up from $55.00) on shares of ONEOK in a research report on Wednesday, February 28th. Finally, TheStreet cut ONEOK from a “b” rating to a “c+” rating in a research report on Monday, February 26th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $61.29.
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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