Vanguard Group Inc. Boosts Position in ONEOK, Inc. (NYSE:OKE)

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Vanguard Group Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,629,850 shares of the utilities provider’s stock after acquiring an additional 739,353 shares during the quarter. Vanguard Group Inc. owned 11.29% of ONEOK worth $3,208,599,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in ONEOK by 7.9% in the 1st quarter. BlackRock Inc. now owns 44,615,090 shares of the utilities provider’s stock worth $3,115,917,000 after purchasing an additional 3,261,539 shares during the period. Geode Capital Management LLC raised its holdings in ONEOK by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock worth $287,526,000 after purchasing an additional 415,385 shares during the period. Northern Trust Corp raised its holdings in ONEOK by 1.5% in the 2nd quarter. Northern Trust Corp now owns 5,017,875 shares of the utilities provider’s stock worth $345,281,000 after purchasing an additional 73,948 shares during the period. Clearbridge Investments LLC raised its holdings in ONEOK by 2.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock worth $218,297,000 after purchasing an additional 83,906 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 4.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,106,877 shares of the utilities provider’s stock worth $213,785,000 after purchasing an additional 136,866 shares during the period. Institutional investors own 74.31% of the company’s stock.

A number of equities analysts recently commented on the company. Credit Suisse Group raised their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Mitsubishi UFJ Financial Group raised their target price on ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price target on the stock. in a report on Wednesday. UBS Group raised ONEOK from a “neutral” rating to a “buy” rating and raised their price target for the company from $69.00 to $75.00 in a report on Monday, August 12th. Finally, Argus raised their price target on ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $72.69.

NYSE:OKE traded down $1.63 on Thursday, reaching $74.87. 90,689 shares of the company’s stock traded hands, compared to its average volume of 1,791,743. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. The stock has a 50-day simple moving average of $70.66 and a 200-day simple moving average of $68.57. The firm has a market cap of $31.32 billion, a PE ratio of 26.92, a P/E/G ratio of 2.11 and a beta of 1.13. ONEOK, Inc. has a 12 month low of $50.26 and a 12 month high of $77.21.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The business’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. On average, equities analysts anticipate that ONEOK, Inc. will post 3.12 earnings per share for the current year.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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