ONEOK, Inc. (OKE) Stake Lifted by Norinchukin Bank The
Norinchukin Bank The increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 30.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,456 shares of the utilities provider’s stock after buying an additional 5,760 shares during the period. Norinchukin Bank The’s holdings in ONEOK were worth $1,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Delta Asset Management LLC TN purchased a new position in shares of ONEOK during the 2nd quarter valued at approximately $103,000. Smithfield Trust Co. raised its stake in ONEOK by 107.7% in the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 1,034 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in ONEOK by 83.3% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 1,403 shares during the last quarter. Pacer Advisors Inc. raised its stake in ONEOK by 3.2% in the 1st quarter. Pacer Advisors Inc. now owns 3,913 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 121 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in ONEOK by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock valued at $210,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 51.23% of the company’s stock.
Several research analysts recently commented on the company. BidaskClub raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Credit Suisse Group reduced their price objective on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a research note on Monday, September 11th. Argus reissued a “buy” rating and issued a $59.00 price objective (up from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Finally, UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $59.00 in a research note on Wednesday, June 14th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ONEOK presently has a consensus rating of “Hold” and an average target price of $57.57.
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Shares of ONEOK, Inc. (NYSE:OKE) opened at 56.20 on Friday. ONEOK, Inc. has a 52 week low of $45.41 and a 52 week high of $59.47. The firm has a 50 day moving average price of $54.00 and a 200-day moving average price of $52.92. The firm has a market capitalization of $21.36 billion, a P/E ratio of 35.21 and a beta of 1.32.
ONEOK (NYSE:OKE) last released its quarterly 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). ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the firm earned $0.40 earnings per share. Equities research analysts predict that ONEOK, Inc. will post $1.68 EPS for the current fiscal 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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