Abbot Financial Management Inc. bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,844 shares of the utilities provider’s stock, valued at approximately $305,000.

A number of other hedge funds also recently made changes to their positions in the business. CHICAGO TRUST Co NA boosted its stake in ONEOK by 0.5% during the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares during the period. Cleararc Capital Inc. boosted its stake in ONEOK by 0.7% during the first quarter. Cleararc Capital Inc. now owns 5,147 shares of the utilities provider’s stock worth $285,000 after buying an additional 36 shares during the period. New Amsterdam Partners LLC NY boosted its stake in ONEOK by 0.6% during the second quarter. New Amsterdam Partners LLC NY now owns 9,367 shares of the utilities provider’s stock worth $489,000 after buying an additional 58 shares during the period. Stephens Inc. AR boosted its stake in ONEOK by 0.4% during the second quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock worth $805,000 after buying an additional 58 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in ONEOK by 0.7% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,076 shares of the utilities provider’s stock worth $448,000 after buying an additional 60 shares during the period. 51.26% of the stock is owned by institutional investors.

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Several research analysts have recently commented on the stock. BidaskClub raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Credit Suisse Group lowered their price objective on shares of 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 previously from $55.00) on shares of ONEOK in a research note on Thursday, August 24th. Finally, UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $56.00 to $59.00 in a research note on Wednesday, June 14th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.57.

Shares of ONEOK, Inc. (OKE) traded up 0.02% during mid-day trading on Tuesday, reaching $56.11. 816,161 shares of the company traded hands. The company has a market capitalization of $21.32 billion, a P/E ratio of 35.16 and a beta of 1.32. The firm’s 50 day moving average price is $53.99 and its 200-day moving average price is $52.90. ONEOK, Inc. has a 52-week low of $45.41 and a 52-week high of $59.47.

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). The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations 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 prior year, the company earned $0.40 EPS. Equities analysts predict that ONEOK, Inc. will post $1.68 earnings per share for the current fiscal year.

ONEOK Company 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.

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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