ONEOK, Inc. (OKE) Stake Increased by Laurel Wealth Advisors Inc.

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Laurel Wealth Advisors Inc. lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 47.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,963 shares of the utilities provider’s stock after buying an additional 1,931 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in ONEOK were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. JNBA Financial Advisors boosted its holdings in ONEOK by 827.4% in the third quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 1,812 shares during the period. TRUE Private Wealth Advisors acquired a new position in ONEOK in the third quarter worth $140,000. Rehmann Capital Advisory Group boosted its holdings in ONEOK by 205.6% in the second quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 1,643 shares during the period. Palo Capital Inc. acquired a new position in ONEOK in the third quarter worth $175,000. Finally, First Hawaiian Bank acquired a new position in ONEOK in the third quarter worth $177,000. 73.06% of the stock is owned by institutional investors and hedge funds.

ONEOK stock opened at $56.47 on Wednesday. ONEOK, Inc. has a fifty-two week low of $51.28 and a fifty-two week high of $71.99. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.18 and a beta of 0.90. The company has a current ratio of 0.74, a quick ratio of 0.51 and a debt-to-equity ratio of 1.25.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 6.96% and a return on equity of 16.32%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, analysts forecast that ONEOK, Inc. will post 2.83 earnings per share for the current year.

OKE has been the subject of several analyst reports. ValuEngine raised shares of ONEOK from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Citigroup raised ONEOK from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Thursday, November 29th. Credit Suisse Group assumed coverage on ONEOK in a report on Thursday, October 11th. They set a “neutral” rating and a $74.00 price target for the company. Jefferies Financial Group upgraded ONEOK from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Tuesday, October 16th. Finally, Barclays lowered ONEOK from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $73.00 to $70.00 in a research note on Friday, October 12th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $70.39.

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About ONEOK

ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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