Murphy Capital Management Inc. decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 34.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,155 shares of the utilities provider’s stock after selling 1,660 shares during the quarter. Murphy Capital Management Inc.’s holdings in ONEOK were worth $213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in ONEOK by 9.8% during the 2nd quarter. BlackRock Inc. now owns 36,629,660 shares of the utilities provider’s stock worth $2,557,848,000 after buying an additional 3,276,879 shares during the period. Kayne Anderson Capital Advisors LP lifted its holdings in ONEOK by 9.4% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 10,384,905 shares of the utilities provider’s stock worth $591,089,000 after buying an additional 888,500 shares during the period. Summit Trail Advisors LLC lifted its holdings in ONEOK by 6,007.8% during the 1st quarter. Summit Trail Advisors LLC now owns 4,703,755 shares of the utilities provider’s stock worth $4,704,000 after buying an additional 4,626,743 shares during the period. Northern Trust Corp lifted its holdings in ONEOK by 0.9% during the 2nd quarter. Northern Trust Corp now owns 4,492,346 shares of the utilities provider’s stock worth $313,701,000 after buying an additional 38,609 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in ONEOK by 3.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,537,390 shares of the utilities provider’s stock worth $177,186,000 after buying an additional 82,208 shares during the period. 73.19% of the stock is currently owned by institutional investors.

OKE has been the topic of several recent research reports. US Capital Advisors reaffirmed a “buy” rating on shares of ONEOK in a report on Tuesday, July 17th. Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Tuesday, July 3rd. Barclays downgraded ONEOK from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $73.00 to $70.00 in a report on Friday. ValuEngine downgraded ONEOK from a “buy” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, Seaport Global Securities set a $73.00 target price on ONEOK and gave the stock a “hold” rating in a report on Friday, July 27th. Twelve investment 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 price target of $70.00.

Shares of NYSE:OKE opened at $65.02 on Friday. The stock has a market capitalization of $27.88 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 2.64 and a beta of 0.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.40 and a current ratio of 0.56. ONEOK, Inc. has a 1 year low of $49.65 and a 1 year high of $71.99.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.20 billion. ONEOK had a return on equity of 14.70% and a net margin of 6.07%. On average, equities research analysts forecast that ONEOK, Inc. will post 2.7 EPS for the current fiscal year.

In other ONEOK news, Director Brian L. Derksen acquired 1,500 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were bought at an average cost of $67.60 per share, with a total value of $101,400.00. Following the purchase, the director now directly owns 5,100 shares of the company’s stock, valued at $344,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

ONEOK Profile

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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