Catalyst Capital Advisors LLC Boosts Stake in ONEOK, Inc. (OKE)
Catalyst Capital Advisors LLC raised its position in shares of ONEOK, Inc. (NYSE:OKE) by 30.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,336 shares of the utilities provider’s stock after buying an additional 25,440 shares during the period. Catalyst Capital Advisors LLC owned about 0.05% of ONEOK worth $6,006,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in OKE. Massmutual Trust Co. FSB ADV acquired a new stake in shares of ONEOK during the first quarter worth $100,000. Blenheim Capital Management BV acquired a new stake in shares of ONEOK during the fourth quarter worth $122,000. Huntington National Bank raised its stake in shares of ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock worth $122,000 after buying an additional 554 shares in the last quarter. Tuttle Tactical Management LLC acquired a new stake in shares of ONEOK during the third quarter worth $151,000. Finally, Virtus Investment Advisers Inc. bought a new stake in ONEOK during the third quarter worth about $159,000. 81.59% of the stock is currently owned by institutional investors.
ONEOK, Inc. (NYSE:OKE) opened at 50.97 on Friday. ONEOK, Inc. has a one year low of $42.79 and a one year high of $59.47. The firm has a market capitalization of $10.75 billion, a P/E ratio of 30.43 and a beta of 1.28. The firm has a 50-day moving average price of $50.68 and a 200 day moving average price of $54.24.
ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.82 billion. Equities research analysts anticipate that ONEOK, Inc. will post $1.88 earnings per share for the current year.
OKE has been the subject of a number of research reports. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a research report on Monday, March 6th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Wednesday, March 8th. Guggenheim began coverage on ONEOK in a research report on Monday, April 17th. They set a “buy” rating and a $62.00 price objective for the company. Jefferies Group LLC restated a “hold” rating and set a $51.00 price objective on shares of ONEOK in a research report on Friday. Finally, Royal Bank Of Canada restated a “hold” rating and set a $58.00 price objective on shares of ONEOK in a research report on Friday, May 12th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $56.91.
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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