Chemical Bank Holds Stake in ONEOK, Inc. (OKE)
Chemical Bank maintained its position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,168 shares of the utilities provider’s stock at the close of the 2nd quarter. Chemical Bank’s holdings in ONEOK were worth $321,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of OKE. Nationwide Fund Advisors raised its holdings in shares of ONEOK by 5.4% in the 1st quarter. Nationwide Fund Advisors now owns 60,542 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 3,127 shares during the period. Chicago Equity Partners LLC raised its holdings in shares of ONEOK by 6.5% in the 1st quarter. Chicago Equity Partners LLC now owns 9,405 shares of the utilities provider’s stock worth $521,000 after purchasing an additional 575 shares during the period. US Bancorp DE raised its holdings in shares of ONEOK by 0.8% in the 1st quarter. US Bancorp DE now owns 21,077 shares of the utilities provider’s stock worth $1,169,000 after purchasing an additional 172 shares during the period. World Asset Management Inc raised its holdings in shares of ONEOK by 19.3% in the 1st quarter. World Asset Management Inc now owns 24,035 shares of the utilities provider’s stock worth $1,333,000 after purchasing an additional 3,882 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of ONEOK by 7.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 610,774 shares of the utilities provider’s stock worth $33,861,000 after purchasing an additional 40,837 shares during the period. 51.23% of the stock is currently owned by institutional investors.
Shares of ONEOK, Inc. (NYSE:OKE) opened at 56.20 on Friday. The firm’s 50-day moving average is $54.00 and its 200-day moving average is $52.92. The company has a market cap of $21.36 billion, a PE ratio of 35.21 and a beta of 1.32. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.12). The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same quarter in the prior year, the business earned $0.40 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post $1.68 EPS for the current year.
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A number of research firms recently commented on OKE. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, August 4th. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. BMO Capital Markets raised shares of ONEOK from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $53.00 to $59.00 in a report on Wednesday, July 5th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Wednesday, June 21st. Finally, Barclays PLC began coverage on shares of ONEOK in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $57.57.
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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