Wealthsource Partners LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 3,800 shares of the utilities provider’s stock, valued at approximately $203,000.
Several other institutional investors and hedge funds also recently bought and sold shares of OKE. New York State Common Retirement Fund raised its holdings in ONEOK by 1.6% in the 3rd quarter. New York State Common Retirement Fund now owns 552,700 shares of the utilities provider’s stock valued at $30,625,000 after buying an additional 8,800 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in ONEOK by 22.2% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 16,990 shares of the utilities provider’s stock valued at $942,000 after buying an additional 3,090 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in ONEOK by 4.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 534,001 shares of the utilities provider’s stock valued at $29,592,000 after buying an additional 22,153 shares during the last quarter. Macquarie Group Ltd. raised its holdings in ONEOK by 57.9% in the 3rd quarter. Macquarie Group Ltd. now owns 109,586 shares of the utilities provider’s stock valued at $6,072,000 after buying an additional 40,200 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in ONEOK by 120.0% in the 3rd quarter. Pacer Advisors Inc. now owns 9,311 shares of the utilities provider’s stock valued at $516,000 after buying an additional 5,079 shares during the last quarter. Institutional investors own 68.44% of the company’s stock.
OKE stock opened at $56.75 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 1.42. ONEOK, Inc. has a fifty-two week low of $47.14 and a fifty-two week high of $61.36. The stock has a market cap of $23,541.66, a P/E ratio of 42.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26.
In other ONEOK news, VP Sheppard F. Miers III sold 2,200 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $56.70, for a total transaction of $124,740.00. Following the completion of the transaction, the vice president now owns 31,244 shares in the company, valued at approximately $1,771,534.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on OKE. Jefferies Group upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Wednesday, March 14th. Stifel Nicolaus reiterated a “hold” rating and issued a $61.00 price objective (up previously from $55.00) on shares of ONEOK in a report on Wednesday, February 28th. UBS reiterated a “buy” rating and issued a $72.00 price objective (up previously from $70.00) on shares of ONEOK in a report on Friday, March 2nd. Finally, BMO Capital Markets set a $68.00 price objective on shares of ONEOK and gave the company a “buy” rating in a report on Thursday, March 8th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $61.29.
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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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