Nachman Norwood & Parrott Inc lifted its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 6.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,295 shares of the utilities provider’s stock after buying an additional 850 shares during the period. Nachman Norwood & Parrott Inc’s holdings in ONEOK were worth $998,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of ONEOK by 28.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock worth $207,436,000 after purchasing an additional 671,577 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of ONEOK by 6.3% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock worth $997,880,000 after purchasing an additional 877,072 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ONEOK by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,655,355 shares of the utilities provider’s stock worth $451,167,000 after purchasing an additional 31,370 shares in the last quarter. FMR LLC raised its holdings in shares of ONEOK by 42.3% in the 3rd quarter. FMR LLC now owns 209,634 shares of the utilities provider’s stock worth $14,211,000 after purchasing an additional 62,346 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of ONEOK by 14.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,184,617 shares of the utilities provider’s stock worth $80,308,000 after purchasing an additional 146,915 shares in the last quarter. 75.67% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of ONEOK from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Jefferies Financial Group lowered shares of ONEOK from a “buy” rating to a “hold” rating and boosted their price target for the company from $72.00 to $74.00 in a report on Monday, April 1st. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Tuesday, March 19th. Evercore ISI assumed coverage on shares of ONEOK in a report on Tuesday, February 5th. They set a $68.00 price target on the stock. Finally, Mizuho set a $73.00 price target on shares of ONEOK and gave the company a “hold” rating in a report on Tuesday, February 26th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $71.11.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 25th. The utilities provider reported $0.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.04). The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.31 billion. ONEOK had a net margin of 9.14% and a return on equity of 17.10%. During the same quarter in the prior year, the company posted $0.53 EPS. Equities analysts anticipate that ONEOK, Inc. will post 3.01 EPS for the current fiscal year.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the director now owns 15,536 shares in the company, valued at approximately $1,037,028. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by corporate insiders.
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ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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