Wealthfront Inc. bought a new position in ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,223 shares of the utilities provider’s stock, valued at approximately $533,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of ONEOK by 17.3% in the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after acquiring an additional 4,002,795 shares during the last quarter. BlackRock Inc. grew its stake in shares of ONEOK by 28.4% in the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after acquiring an additional 5,317,251 shares during the last quarter. State Street Corp grew its stake in shares of ONEOK by 6.1% in the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock worth $628,143,000 after acquiring an additional 649,957 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of ONEOK by 6.1% in the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after acquiring an additional 526,450 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of ONEOK by 25.1% in the second quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock worth $356,012,000 after acquiring an additional 1,369,438 shares during the last quarter. 51.26% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc. (NYSE:OKE) traded down 0.60% on Friday, reaching $54.73. The company’s stock had a trading volume of 373,584 shares. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47. The company has a market capitalization of $20.80 billion, a price-to-earnings ratio of 34.29 and a beta of 1.32. The firm’s 50 day moving average price is $53.98 and its 200-day moving average price is $52.90.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.12). The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same quarter last year, the firm earned $0.40 earnings per share. Equities analysts forecast that ONEOK, Inc. will post $1.68 earnings per share for the current year.
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OKE has been the topic of a number of recent research reports. J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 target price on shares of ONEOK in a research note on Monday, September 11th. Argus reissued a “buy” rating and issued a $59.00 target price (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Credit Suisse Group cut their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Zacks Investment Research cut ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Morgan Stanley cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price on the stock. in a research note on Wednesday, July 5th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $57.57.
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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