World Asset Management Inc Increases Position in ONEOK, Inc. (OKE)

World Asset Management Inc increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 19.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,035 shares of the utilities provider’s stock after buying an additional 3,882 shares during the period. World Asset Management Inc’s holdings in ONEOK were worth $1,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $106,193,000. Janus Capital Management LLC boosted its stake in shares of ONEOK by 308.7% in the fourth quarter. Janus Capital Management LLC now owns 1,516,062 shares of the utilities provider’s stock valued at $87,037,000 after buying an additional 1,145,098 shares during the last quarter. Energy Income Partners LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $45,645,000. Bank of New York Mellon Corp boosted its stake in shares of ONEOK by 15.9% in the first quarter. Bank of New York Mellon Corp now owns 5,455,920 shares of the utilities provider’s stock valued at $302,476,000 after buying an additional 749,725 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of ONEOK during the third quarter valued at approximately $36,425,000. Institutional investors own 81.59% of the company’s stock.

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

ONEOK, Inc. (OKE) traded up 4.06% during midday trading on Friday, hitting $50.97. The company had a trading volume of 3,277,993 shares. The stock has a 50 day moving average of $50.68 and a 200 day moving average of $54.24. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 30.43 and a beta of 1.28. ONEOK, Inc. has a 52-week low of $42.79 and a 52-week high of $59.47.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.82 billion. On average, analysts anticipate that ONEOK, Inc. will post $1.88 EPS for the current year.

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A number of research firms have weighed in on OKE. TheStreet raised ONEOK from a “c+” rating to a “b-” rating in a research note on Monday, March 6th. BMO Capital Markets reissued a “hold” rating and set a $53.00 price objective on shares of ONEOK in a research note on Wednesday, March 1st. Zacks Investment Research raised ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, March 8th. Guggenheim initiated coverage on ONEOK in a research note on Monday, April 17th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 price target on shares of ONEOK in a research note on Friday, May 12th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.30.

ONEOK Company Profile

ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.

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