Navellier & Associates Inc decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 42.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,415 shares of the utilities provider’s stock after selling 34,529 shares during the quarter. Navellier & Associates Inc’s holdings in ONEOK were worth $2,421,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Cipher Capital LP raised its stake in ONEOK by 166.9% during the second quarter. Cipher Capital LP now owns 56,337 shares of the utilities provider’s stock valued at $2,938,000 after purchasing an additional 35,228 shares in the last quarter. Crawford Investment Counsel Inc. raised its stake in ONEOK by 61.2% during the second quarter. Crawford Investment Counsel Inc. now owns 40,635 shares of the utilities provider’s stock valued at $2,120,000 after purchasing an additional 15,427 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in ONEOK during the second quarter valued at $2,358,000. Capital Advisors Inc. OK raised its stake in ONEOK by 224.8% during the second quarter. Capital Advisors Inc. OK now owns 31,934 shares of the utilities provider’s stock valued at $1,666,000 after purchasing an additional 22,102 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in ONEOK by 90.7% during the second quarter. Blair William & Co. IL now owns 15,933 shares of the utilities provider’s stock valued at $831,000 after purchasing an additional 7,576 shares in the last quarter. 51.30% of the stock is currently owned by institutional investors.
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A number of research firms recently issued reports on OKE. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Tuesday. BidaskClub downgraded shares of ONEOK from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $54.00 price target on shares of ONEOK in a research note on Thursday, October 12th. Mizuho began coverage on shares of ONEOK in a research note on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price target on the stock. Finally, Credit Suisse Group decreased their price target on shares of ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. ONEOK currently has an average rating of “Buy” and a consensus price target of $58.64.
Shares of ONEOK, Inc. (NYSE OKE) traded down 0.09% during midday trading on Tuesday, hitting $56.20. 315,726 shares of the stock traded hands. ONEOK, Inc. has a 12-month low of $45.41 and a 12-month high of $59.47. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 35.21 and a beta of 1.30. The company’s 50 day moving average price is $55.67 and its 200-day moving average price is $53.17.
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). 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 analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities research analysts expect that ONEOK, Inc. will post $1.72 EPS for the current year.
ONEOK Company Profile
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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