Gofen & Glossberg LLC IL Boosts Position in ONEOK, Inc. (OKE)
Gofen & Glossberg LLC IL increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 259.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,920 shares of the utilities provider’s stock after buying an additional 15,830 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in ONEOK were worth $1,215,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in ONEOK by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after buying an additional 4,002,795 shares during the period. BlackRock Inc. raised its stake in ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after buying an additional 5,317,251 shares during the period. State Street Corp raised its stake in ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after buying an additional 6,086,061 shares during the period. Kayne Anderson Capital Advisors LP raised its stake in ONEOK by 184.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after buying an additional 6,148,494 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in ONEOK by 3.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock worth $520,782,000 after buying an additional 300,031 shares during the period. 71.02% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on the company. BidaskClub raised ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $58.00 price target on shares of ONEOK in a research note on Monday, September 11th. Zacks Investment Research lowered ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday. Argus reissued a “buy” rating and set a $59.00 price objective (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $54.00 price objective on shares of ONEOK in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. ONEOK presently has an average rating of “Hold” and an average target price of $59.07.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period in the prior year, the firm posted $0.43 earnings per share. analysts expect that ONEOK, Inc. will post 1.73 earnings per share for the current year.
In other ONEOK news, Director Brian L. Derksen bought 1,800 shares of ONEOK stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.
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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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