Bank of Montreal Can purchased a new position in shares of Oneok Inc. (NYSE:OKE) during the second quarter, Holdings Channel reports. The institutional investor purchased 311,791 shares of the company’s stock, valued at approximately $14,794,000.
A number of other large investors have also recently added to or reduced their stakes in OKE. BlackRock Fund Advisors increased its stake in Oneok by 38.9% in the first quarter. BlackRock Fund Advisors now owns 10,927,979 shares of the company’s stock worth $326,309,000 after buying an additional 3,062,297 shares during the last quarter. Norges Bank purchased a new stake in Oneok during the fourth quarter worth $35,309,000. Sasco Capital Inc. CT increased its stake in Oneok by 14.4% in the first quarter. Sasco Capital Inc. CT now owns 5,670,365 shares of the company’s stock worth $169,317,000 after buying an additional 711,734 shares during the last quarter. State Street Corp increased its stake in Oneok by 4.8% in the first quarter. State Street Corp now owns 10,113,298 shares of the company’s stock worth $301,992,000 after buying an additional 465,388 shares during the last quarter. Finally, Harvest Fund Advisors LLC purchased a new stake in Oneok during the first quarter worth $12,773,000. Institutional investors and hedge funds own 72.29% of the company’s stock.
Oneok Inc. (NYSE:OKE) traded up 0.88% during mid-day trading on Friday, reaching $51.39. The company’s stock had a trading volume of 2,050,755 shares. The firm’s 50 day moving average is $48.29 and its 200-day moving average is $42.27. Oneok Inc. has a one year low of $18.84 and a one year high of $51.72. The stock has a market cap of $10.81 billion, a P/E ratio of 39.08 and a beta of 1.11.
Oneok (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Equities analysts expect that Oneok Inc. will post $1.73 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on OKE shares. Jefferies Group downgraded Oneok from a “buy” rating to a “hold” rating and raised their price target for the company from $34.00 to $42.00 in a research report on Wednesday, June 8th. Citigroup Inc. raised their price objective on Oneok from $35.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, June 17th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 price objective (up from $39.00) on shares of Oneok in a research note on Tuesday, August 16th. Zacks Investment Research cut Oneok from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Royal Bank Of Canada raised their price objective on Oneok from $39.00 to $46.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.71.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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