KCM Investment Advisors LLC Purchases New Holdings in ONEOK, Inc. (OKE)

KCM Investment Advisors LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,018 shares of the utilities provider’s stock, valued at approximately $215,000.

Other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund boosted its holdings in ONEOK by 1.6% in the third quarter. New York State Common Retirement Fund now owns 552,700 shares of the utilities provider’s stock valued at $30,625,000 after acquiring an additional 8,800 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in ONEOK by 3.3% in the third quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after acquiring an additional 300,031 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in ONEOK by 91.3% in the third quarter. Cohen & Steers Inc. now owns 2,570,282 shares of the utilities provider’s stock valued at $142,419,000 after acquiring an additional 1,226,876 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in ONEOK by 32.9% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 59,710 shares of the utilities provider’s stock valued at $3,191,000 after acquiring an additional 14,777 shares during the last quarter. Finally, Koch Industries Inc. bought a new position in ONEOK in the fourth quarter valued at about $1,089,000. Institutional investors and hedge funds own 68.44% of the company’s stock.

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In other news, VP Sheppard F. Miers III sold 2,200 shares of ONEOK stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $56.70, for a total transaction of $124,740.00. Following 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

ONEOK stock opened at $56.75 on Friday. ONEOK, Inc. has a 1-year low of $47.14 and a 1-year high of $61.36. The company has a current ratio of 0.66, a quick ratio of 0.50 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $23,303.48, a PE ratio of 33.58, a PEG ratio of 2.47 and a beta of 1.26.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. ONEOK had a return on equity of 10.46% and a net margin of 3.19%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the business posted $0.43 EPS. analysts forecast that ONEOK, Inc. will post 2.56 earnings per share for the current fiscal year.

OKE has been the topic of a number of recent analyst reports. Credit Suisse Group initiated coverage on ONEOK in a report on Monday, January 8th. They set an “outperform” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. raised their target price on ONEOK from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. BMO Capital Markets set a $68.00 target price on ONEOK and gave the stock a “buy” rating in a report on Thursday, March 8th. Mizuho restated a “hold” rating and set a $61.00 target price on shares of ONEOK in a report on Tuesday, January 23rd. Finally, UBS restated a “buy” rating and set a $72.00 target price (up previously from $70.00) on shares of ONEOK in a report on Friday, March 2nd. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $61.29.

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ONEOK Profile

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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