Sasco Capital Inc. CT raised its position in ONEOK, Inc. (NYSE:OKE) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,248,992 shares of the utilities provider’s stock after acquiring an additional 27,605 shares during the period. ONEOK makes up 4.4% of Sasco Capital Inc. CT’s investment portfolio, making the stock its 2nd largest holding. Sasco Capital Inc. CT’s holdings in ONEOK were worth $120,209,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Stockman Wealth Management Inc. lifted its stake in shares of ONEOK by 7.5% in the 4th quarter. Stockman Wealth Management Inc. now owns 14,400 shares of the utilities provider’s stock worth $770,000 after acquiring an additional 1,000 shares during the period. Capital Analysts LLC lifted its stake in shares of ONEOK by 218.5% in the fourth quarter. Capital Analysts LLC now owns 151,149 shares of the utilities provider’s stock valued at $17,243,000 after purchasing an additional 103,689 shares during the period. Mutual Advisors LLC acquired a new stake in shares of ONEOK in the fourth quarter valued at about $708,000. Horseman Capital Management Ltd lifted its stake in shares of ONEOK by 68.0% in the fourth quarter. Horseman Capital Management Ltd now owns 42,000 shares of the utilities provider’s stock valued at $2,245,000 after purchasing an additional 17,000 shares during the period. Finally, Suntrust Banks Inc. lifted its stake in shares of ONEOK by 11.7% in the fourth quarter. Suntrust Banks Inc. now owns 61,046 shares of the utilities provider’s stock valued at $3,262,000 after purchasing an additional 6,386 shares during the period. Institutional investors own 66.24% of the company’s stock.
ONEOK, Inc. (OKE) opened at $57.47 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market cap of $23,430.00, a PE ratio of 35.92, a price-to-earnings-growth ratio of 1.80 and a beta of 1.26. ONEOK, Inc. has a 52-week low of $47.14 and a 52-week high of $61.36.
Several analysts recently commented on OKE shares. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. UBS Group raised their price objective on shares of ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $55.00 price objective on shares of ONEOK in a research note on Friday, November 3rd. Credit Suisse Group started coverage on shares of ONEOK in a research note on Monday, January 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Finally, Bank of America started coverage on shares of ONEOK in a research note on Tuesday, January 9th. They issued a “neutral” rating for the company. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ONEOK presently has an average rating of “Buy” and an average price target of $60.15.
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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