Sterling Capital Management LLC lowered its position in ONEOK, Inc. (NYSE:OKE) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,558 shares of the utilities provider’s stock after selling 910 shares during the quarter. Sterling Capital Management LLC’s holdings in ONEOK were worth $2,324,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in OKE. Vanguard Group Inc. boosted its stake in ONEOK by 17.3% during the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after buying an additional 4,002,795 shares during the period. BlackRock Inc. boosted its stake in ONEOK by 28.4% during the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after buying an additional 5,317,251 shares during the period. State Street Corp boosted its stake in ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after buying an additional 6,086,061 shares during the period. Neuberger Berman Group LLC boosted its stake in ONEOK by 6.1% during the second quarter. Neuberger Berman Group LLC now owns 9,098,662 shares of the utilities provider’s stock worth $474,586,000 after buying an additional 526,450 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in ONEOK by 25.1% during 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 buying an additional 1,369,438 shares during the period. 51.30% of the stock is owned by hedge funds and other institutional investors.
Shares of ONEOK, Inc. (OKE) traded down 0.25% during mid-day trading on Tuesday, hitting $56.11. 106,773 shares of the stock traded hands. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47. The company has a market cap of $21.32 billion, a P/E ratio of 35.16 and a beta of 1.30. The stock has a 50 day moving average price of $55.67 and a 200-day moving average price of $53.17.
ONEOK (NYSE:OKE) last released 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). The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same period last year, the firm posted $0.40 earnings per share. On average, analysts forecast that ONEOK, Inc. will post $1.72 earnings per share for the current fiscal year.
OKE has been the subject of several research analyst reports. Argus reaffirmed a “buy” rating and set a $59.00 target price (up previously from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Morgan Stanley lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 target price for the company. in a research note on Wednesday, July 5th. Barclays PLC initiated coverage on shares of ONEOK in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 target price for the company. Finally, Zacks Investment Research raised shares of ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. ONEOK has a consensus rating of “Buy” and an average price target of $58.64.
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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