ONEOK, Inc. (OKE) Shares Sold by Advisor Group Inc.
Advisor Group Inc. trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,796 shares of the utilities provider’s stock after selling 3,322 shares during the quarter. Advisor Group Inc.’s holdings in ONEOK were worth $4,622,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in OKE. Nationwide Fund Advisors increased its position in ONEOK by 5.4% during 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 in the last quarter. US Bancorp DE increased its position in ONEOK by 0.8% during 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 in the last quarter. UBS Asset Management Americas Inc. increased its position in ONEOK by 7.2% during 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 in the last quarter. Sei Investments Co. increased its position in ONEOK by 62.1% during the 1st quarter. Sei Investments Co. now owns 73,492 shares of the utilities provider’s stock worth $4,074,000 after purchasing an additional 28,155 shares in the last quarter. Finally, Keybank National Association OH increased its position in ONEOK by 1.0% during the 1st quarter. Keybank National Association OH now owns 10,903 shares of the utilities provider’s stock worth $604,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 51.26% of the company’s stock.
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A number of equities analysts recently issued reports on OKE shares. Argus reiterated a “buy” rating and set a $59.00 price objective (up from $55.00) on shares of ONEOK in a research report on Thursday, August 24th. BidaskClub upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. UBS AG upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $56.00 to $59.00 in a research report on Wednesday, June 14th. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research report on Wednesday, July 5th. Finally, Barclays PLC started coverage on shares of ONEOK in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price objective for the company. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. ONEOK presently has a consensus rating of “Hold” and a consensus target price of $57.57.
ONEOK, Inc. (OKE) traded down 0.65% during midday trading on Friday, reaching $54.70. 2,765,698 shares of the company’s stock were exchanged. ONEOK, Inc. has a 12 month low of $45.41 and a 12 month high of $59.47. The firm has a 50 day moving average of $53.98 and a 200-day moving average of $52.90. The stock has a market cap of $20.79 billion, a PE ratio of 34.27 and a beta of 1.32.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing the 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 period last year, the business posted $0.40 earnings per share. On average, equities research analysts predict that ONEOK, Inc. will post $1.69 earnings per share for the current year.
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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