ONEOK, Inc. (OKE) Position Raised by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 814,448 shares of the utilities provider’s stock after acquiring an additional 128,030 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.21% of ONEOK worth $45,129,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of ONEOK by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock valued at $1,418,645,000 after acquiring an additional 4,002,795 shares during the last quarter. BlackRock Inc. boosted its position in shares of ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after acquiring an additional 5,317,251 shares during the last quarter. State Street Corp boosted its position in shares of ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after acquiring an additional 6,086,061 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of ONEOK by 269.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after acquiring an additional 9,737,701 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its position in shares of 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 valued at $525,098,000 after acquiring an additional 6,148,494 shares during the last quarter. 70.89% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on OKE. Zacks Investment Research cut shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $55.00 target price on shares of ONEOK in a research report on Friday, November 3rd. UBS upped their target price on shares of ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $62.00 target price on shares of ONEOK and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Mizuho began coverage on shares of ONEOK in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $59.00 target price on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $59.07.
Shares of ONEOK, Inc. (NYSE OKE) opened at $51.51 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK, Inc. has a one year low of $47.14 and a one year high of $59.47. The firm has a market cap of $19,885.03, a P/E ratio of 32.41, a P/E/G ratio of 3.32 and a beta of 1.26.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. analysts predict that ONEOK, Inc. will post 1.73 EPS for the current fiscal year.
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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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