Investment Centers of America Inc. lifted its stake in ONEOK, Inc. (NYSE:OKE) by 48.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,238 shares of the utilities provider’s stock after acquiring an additional 2,036 shares during the period. Investment Centers of America Inc.’s holdings in ONEOK were worth $324,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Delta Asset Management LLC TN bought a new position in shares of ONEOK in the 2nd quarter valued at approximately $103,000. Smithfield Trust Co. raised its stake in shares of ONEOK by 107.7% in the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 1,034 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of ONEOK by 83.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 1,403 shares in the last quarter. CHICAGO TRUST Co NA raised its stake in shares of ONEOK by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock valued at $210,000 after acquiring an additional 20 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of ONEOK by 5,543.1% in the 1st quarter. Proficio Capital Partners LLC now owns 4,063 shares of the utilities provider’s stock valued at $214,000 after acquiring an additional 3,991 shares in the last quarter. 51.26% of the stock is currently owned by institutional investors and hedge funds.
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Several research analysts have commented on the company. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $58.00 price target on shares of ONEOK in a research report on Monday, September 11th. Argus reaffirmed a “buy” rating and issued a $59.00 price target (up from $55.00) on shares of ONEOK in a research report on Thursday, August 24th. Credit Suisse Group dropped their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. Zacks Investment Research downgraded ONEOK from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Finally, Morgan Stanley downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research report on Wednesday, July 5th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $57.57.
Shares of ONEOK, Inc. (NYSE OKE) opened at 56.10 on Tuesday. The firm has a market cap of $21.32 billion, a price-to-earnings ratio of 35.15 and a beta of 1.32. The stock’s 50 day moving average price is $53.99 and its 200 day moving average price is $52.90. ONEOK, Inc. has a one year low of $45.41 and a one year high of $59.47.
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 Zacks’ consensus estimate of $0.45 by ($0.12). The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate 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 business posted $0.40 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post $1.68 earnings per share for the current fiscal year.
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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