Westpac Banking Corp Holds Holdings in ONEOK, Inc. (OKE)
Westpac Banking Corp held its stake in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,110 shares of the utilities provider’s stock at the close of the 2nd quarter. Westpac Banking Corp’s holdings in ONEOK were worth $632,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Delta Asset Management LLC TN purchased a new stake in shares of ONEOK during the 2nd quarter worth approximately $103,000. Smithfield Trust Co. boosted its stake in shares of ONEOK by 107.7% during the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,034 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of ONEOK by 83.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 1,403 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of ONEOK by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 3,913 shares of the utilities provider’s stock worth $217,000 after acquiring an additional 121 shares in the last quarter. Finally, Trust Co. of Virginia VA purchased a new stake in shares of ONEOK during the 1st quarter worth approximately $222,000. 51.23% of the stock is currently owned by institutional investors.
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Several equities research analysts have recently commented on OKE shares. J P Morgan Chase & Co reissued a “neutral” rating and set a $58.00 price target on shares of ONEOK in a research note on Monday. Argus reissued a “buy” rating and set a $59.00 price target (up previously from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Credit Suisse Group decreased their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Zacks Investment Research lowered ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday, July 5th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. ONEOK has a consensus rating of “Hold” and an average target price of $57.57.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at $912,412.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company’s stock.
ONEOK, Inc. (NYSE OKE) opened at 56.48 on Thursday. The firm has a market capitalization of $21.46 billion, a P/E ratio of 35.39 and a beta of 1.32. ONEOK, Inc. has a 12 month low of $45.41 and a 12 month high of $59.47. The company’s 50 day moving average price is $53.96 and its 200 day moving average price is $52.84.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.12). The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. During the same quarter in the previous year, the business posted $0.40 earnings per share. Analysts anticipate that ONEOK, Inc. will post $1.68 EPS for the current year.
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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