Louisiana State Employees Retirement System cut its stake in shares of Oneok Inc. (NYSE:OKE) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 13,800 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Oneok were worth $655,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in OKE. Sasco Capital Inc. CT raised its stake in shares of Oneok by 14.4% in the first quarter. Sasco Capital Inc. CT now owns 5,670,365 shares of the company’s stock valued at $169,317,000 after buying an additional 711,734 shares during the period. State Street Corp raised its stake in shares of Oneok by 4.8% in the first quarter. State Street Corp now owns 10,113,298 shares of the company’s stock valued at $301,992,000 after buying an additional 465,388 shares during the period. Harvest Fund Advisors LLC purchased a new stake in shares of Oneok during the first quarter valued at $12,773,000. BlackRock Group LTD raised its stake in shares of Oneok by 21.2% in the first quarter. BlackRock Group LTD now owns 2,310,037 shares of the company’s stock valued at $68,977,000 after buying an additional 404,516 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Oneok during the second quarter valued at $14,794,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
Shares of Oneok Inc. (NYSE:OKE) traded up 0.66% on Friday, hitting $50.13. The stock had a trading volume of 1,838,263 shares. The stock has a market capitalization of $10.55 billion, a PE ratio of 38.12 and a beta of 1.10. The firm’s 50 day moving average is $48.89 and its 200-day moving average is $43.65. Oneok Inc. has a one year low of $18.84 and a one year high of $51.72.
Oneok (NYSE:OKE) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.03. Oneok had a return on equity of 9.41% and a net margin of 3.58%. During the same period last year, the firm earned $0.36 EPS. Equities research analysts expect that Oneok Inc. will post $1.72 earnings per share for the current fiscal year.
OKE has been the subject of several analyst reports. Morgan Stanley downgraded Oneok from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $50.00 in a report on Tuesday, October 4th. They noted that the move was a valuation call. Deutsche Bank AG raised Oneok from a “sell” rating to a “hold” rating and upped their target price for the company from $49.00 to $52.00 in a report on Monday. Citigroup Inc. upped their target price on Oneok from $35.00 to $53.00 and gave the company a “buy” rating in a report on Friday, June 17th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 target price (up from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Finally, Jefferies Group upped their target price on Oneok from $42.00 to $43.00 and gave the company a “hold” rating in a report on Monday, July 25th. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $40.79.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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