Coastline Trust Co Acquires New Stake in ONEOK, Inc. (OKE)

Coastline Trust Co acquired a new position in ONEOK, Inc. (NYSE:OKE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 20,294 shares of the utilities provider’s stock, valued at approximately $1,125,000.

Other hedge funds have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 269.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after purchasing an additional 9,737,701 shares in the last quarter. Harvest Fund Advisors LLC purchased a new stake in ONEOK during the third quarter valued at about $414,256,000. Kayne Anderson Capital Advisors LP raised its position in ONEOK by 184.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after purchasing an additional 6,148,494 shares in the last quarter. State Street Corp raised its position in ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after purchasing an additional 6,086,061 shares in the last quarter. Finally, BlackRock Inc. raised its position in ONEOK by 28.4% during the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after purchasing an additional 5,317,251 shares in the last quarter. Institutional investors own 71.02% of the company’s stock.

In related news, Director Brian L. Derksen acquired 1,800 shares of ONEOK stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

OKE has been the topic of a number of research reports. Barclays initiated coverage on ONEOK in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target on the stock. Zacks Investment Research downgraded ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Jefferies Group restated a “hold” rating and set a $52.00 price target (up previously from $51.00) on shares of ONEOK in a research report on Friday, September 1st. Mizuho initiated coverage on ONEOK in a research report on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price target on the stock. Finally, J P Morgan Chase & Co restated a “neutral” rating and set a $58.00 price target on shares of ONEOK in a research report on Monday, September 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. ONEOK presently has an average rating of “Hold” and a consensus price target of $59.07.

Shares of ONEOK, Inc. (OKE) traded down $0.48 during trading hours on Friday, hitting $52.74. The stock had a trading volume of 2,280,200 shares, compared to its average volume of 3,207,960. ONEOK, Inc. has a 52-week low of $47.14 and a 52-week high of $59.47. The company has a market capitalization of $20,406.50, a PE ratio of 33.26, a P/E/G ratio of 3.41 and a beta of 1.26. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the business posted $0.43 earnings per share. research analysts expect that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.

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ONEOK 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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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