Vanguard Group Inc. lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 17.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,197,952 shares of the utilities provider’s stock after purchasing an additional 4,002,795 shares during the period. Vanguard Group Inc. owned 7.16% of ONEOK worth $1,418,645,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in shares of ONEOK by 24.4% in the 2nd quarter. Northern Trust Corp now owns 3,094,357 shares of the utilities provider’s stock valued at $161,401,000 after purchasing an additional 607,177 shares during the last quarter. Pinebridge Investments L.P. lifted its stake in shares of ONEOK by 1.5% in the 2nd quarter. Pinebridge Investments L.P. now owns 263,475 shares of the utilities provider’s stock valued at $13,743,000 after purchasing an additional 4,021 shares during the last quarter. Menta Capital LLC lifted its stake in shares of ONEOK by 99.3% in the 2nd quarter. Menta Capital LLC now owns 10,640 shares of the utilities provider’s stock valued at $555,000 after purchasing an additional 5,300 shares during the last quarter. Abbot Financial Management Inc. acquired a new stake in shares of ONEOK in the 2nd quarter valued at $305,000. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of ONEOK by 10.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 677,064 shares of the utilities provider’s stock valued at $35,316,000 after purchasing an additional 66,290 shares during the last quarter. 51.26% of the stock is owned by institutional investors and hedge funds.

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ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same quarter in the prior year, the business earned $0.40 EPS.

Several research firms recently issued reports on OKE. BidaskClub raised shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. UBS AG raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $59.00 in a research note on Wednesday, June 14th. BMO Capital Markets raised shares of ONEOK from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $53.00 to $59.00 in a research note on Wednesday, July 5th. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, June 21st. Finally, Stifel Nicolaus began coverage on shares of ONEOK in a research note on Monday, June 26th. They issued a “hold” rating and a $48.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $57.57.

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.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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