Nachman Norwood & Parrott Inc lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 2.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,930 shares of the utilities provider’s stock after selling 365 shares during the period. Nachman Norwood & Parrott Inc’s holdings in ONEOK were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in ONEOK in the 2nd quarter valued at $27,000. JNBA Financial Advisors increased its holdings in ONEOK by 91.3% in the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after buying an additional 200 shares during the period. IMA Wealth Inc. bought a new stake in ONEOK in the 2nd quarter valued at $32,000. Gradient Investments LLC increased its holdings in ONEOK by 82.3% in the 2nd quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after buying an additional 260 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of ONEOK by 498.0% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 508 shares in the last quarter. 74.31% of the stock is currently owned by hedge funds and other institutional investors.

OKE has been the topic of several recent analyst reports. Mitsubishi UFJ Financial Group boosted their target price on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research note on Monday, August 12th. Zacks Investment Research downgraded shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a research note on Wednesday, September 18th. Credit Suisse Group boosted their target price on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Argus boosted their target price on shares of ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.95.

NYSE OKE traded up $0.41 on Wednesday, hitting $68.61. 1,902,878 shares of the company were exchanged, compared to its average volume of 2,258,916. The firm has a 50 day moving average of $72.28 and a two-hundred day moving average of $69.24. The company has a market cap of $29.02 billion, a P/E ratio of 24.68, a P/E/G ratio of 2.01 and a beta of 1.12. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70. ONEOK, Inc. has a 1-year low of $50.26 and a 1-year high of $77.21.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Research analysts anticipate that ONEOK, Inc. will post 3.12 EPS for the current fiscal year.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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