First Midwest Bank Trust Division Invests $382,000 in Oneok Inc. (OKE)
First Midwest Bank Trust Division purchased a new stake in shares of Oneok Inc. (NYSE:OKE) during the second quarter, Holdings Channel reports. The firm purchased 8,061 shares of the company’s stock, valued at approximately $382,000.
Several other large investors have also bought and sold shares of the stock. First Dallas Securities Inc. purchased a new position in shares of Oneok during the second quarter worth about $218,000. Conning Inc. purchased a new position in shares of Oneok during the second quarter worth about $232,000. WESPAC Advisors LLC purchased a new position in shares of Oneok during the second quarter worth about $653,000. Strs Ohio increased its position in shares of Oneok by 172.9% in the second quarter. Strs Ohio now owns 16,184 shares of the company’s stock worth $767,000 after buying an additional 10,253 shares during the last quarter. Finally, HL Financial Services LLC purchased a new position in shares of Oneok during the second quarter worth about $240,000. Institutional investors and hedge funds own 72.29% of the company’s stock.
Oneok Inc. (NYSE:OKE) traded up 0.18% during trading on Thursday, hitting $49.67. 1,421,471 shares of the company traded hands. The company’s 50-day moving average is $48.61 and its 200 day moving average is $42.86. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 37.77 and a beta of 1.10. Oneok Inc. has a 52-week low of $18.84 and a 52-week high of $51.72.
Oneok (NYSE:OKE) last announced its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities analysts anticipate that Oneok Inc. will post $1.72 earnings per share for the current year.
A number of research analysts have recently issued reports on OKE shares. Jefferies Group downgraded shares of Oneok from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $34.00 to $42.00 in a research report on Wednesday, June 8th. Citigroup Inc. lifted their price objective on shares of Oneok from $35.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, June 17th. Argus downgraded shares of Oneok from a “buy” rating to a “hold” rating in a research report on Friday, June 17th. Morgan Stanley downgraded shares of Oneok from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $50.00 in a research report on Tuesday. They noted that the move was a valuation call. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $46.00 price objective (up previously from $39.00) on shares of Oneok in a research report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.93.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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