Walnut Private Equity Partners LLC Decreases Holdings in ONEOK, Inc. (NYSE:OKE)
Walnut Private Equity Partners LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 82.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,080 shares of the utilities provider’s stock after selling 127,070 shares during the quarter. ONEOK accounts for 7.3% of Walnut Private Equity Partners LLC’s holdings, making the stock its 7th largest holding. Walnut Private Equity Partners LLC’s holdings in ONEOK were worth $10,254,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in shares of ONEOK during the second quarter worth $27,000. JNBA Financial Advisors grew its stake in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after buying an additional 200 shares during the last quarter. IMA Wealth Inc. bought a new stake in shares of ONEOK during the second quarter worth $32,000. Gradient Investments LLC grew its stake in shares of ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock worth $40,000 after buying an additional 260 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in shares of ONEOK by 498.0% during the second quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock worth $42,000 after buying an additional 508 shares during the last quarter. 74.31% of the stock is currently owned by institutional investors and hedge funds.
OKE has been the topic of a number of research reports. Credit Suisse Group boosted their target price on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. UBS Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $69.00 to $75.00 in a research note on Monday, August 12th. Argus boosted their target price on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. Zacks Investment Research cut 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. Finally, Mitsubishi UFJ Financial Group boosted their target price on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and an average target price of $72.95.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. ONEOK’s revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Analysts predict that ONEOK, Inc. will post 3.12 EPS for the current fiscal year.
ONEOK Company 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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