Sentry Investment Management LLC Grows Holdings in ONEOK, Inc. (OKE)
Sentry Investment Management LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,252 shares of the utilities provider’s stock after purchasing an additional 1,056 shares during the quarter. Sentry Investment Management LLC’s holdings in ONEOK were worth $848,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in ONEOK by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after purchasing an additional 4,002,795 shares in the last quarter. BlackRock Inc. increased its holdings in shares of ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after buying an additional 5,317,251 shares during the last quarter. State Street Corp increased its holdings in shares of ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after buying an additional 6,086,061 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of ONEOK by 6.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after buying an additional 526,450 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ONEOK by 25.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock worth $356,012,000 after buying an additional 1,369,438 shares during the last quarter. 51.30% of the stock is currently owned by institutional investors and hedge funds.
OKE has been the subject of a number of recent analyst reports. J P Morgan Chase & Co restated a “neutral” rating and set a $58.00 price target on shares of ONEOK in a report on Monday, September 11th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price target for the company in a report on Tuesday. Argus restated a “buy” rating and set a $59.00 price target (up previously from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Credit Suisse Group cut their price target on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $54.00 price target on shares of ONEOK in a report on Thursday, October 12th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ONEOK has a consensus rating of “Buy” and a consensus price target of $58.86.
Shares of ONEOK, Inc. (OKE) opened at 56.00 on Friday. ONEOK, Inc. has a 12-month low of $45.41 and a 12-month high of $59.47. The firm has a market cap of $21.28 billion, a P/E ratio of 35.09 and a beta of 1.30. The company has a 50-day moving average of $55.95 and a 200 day moving average of $53.23.
ONEOK (NYSE:OKE) last issued 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). ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company posted $0.40 EPS. Equities research analysts anticipate that ONEOK, Inc. will post $1.72 earnings per share for the current fiscal 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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