Westpac Banking Corp raised its position in shares of Oneok Inc. (NYSE:OKE) by 34.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,934 shares of the company’s stock after buying an additional 2,551 shares during the period. Westpac Banking Corp’s holdings in Oneok were worth $471,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Oneok during the fourth quarter worth about $35,309,000. Aperio Group LLC increased its position in Oneok by 33.9% in the first quarter. Aperio Group LLC now owns 127,243 shares of the company’s stock worth $3,799,000 after buying an additional 32,197 shares during the period. Virginia Retirement System purchased a new position in Oneok during the first quarter worth about $678,000. IFP Advisors Inc increased its position in Oneok by 59.2% in the first quarter. IFP Advisors Inc now owns 7,036 shares of the company’s stock worth $210,000 after buying an additional 2,617 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Oneok by 13.7% in the first quarter. TIAA CREF Investment Management LLC now owns 863,472 shares of the company’s stock worth $25,783,000 after buying an additional 103,808 shares during the period. Institutional investors own 72.29% of the company’s stock.
Oneok Inc. (NYSE:OKE) opened at 49.85 on Thursday. The firm has a 50-day moving average price of $48.56 and a 200 day moving average price of $42.81. Oneok Inc. has a 12 month low of $18.84 and a 12 month high of $51.72. The stock has a market capitalization of $10.49 billion, a PE ratio of 37.91 and a beta of 1.10.
Oneok (NYSE:OKE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 in the previous year, the firm earned $0.36 earnings per share. Equities analysts anticipate that Oneok Inc. will post $1.73 earnings per share for the current year.
A number of equities analysts have issued reports on OKE shares. Citigroup Inc. increased their price objective on Oneok from $35.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 17th. Zacks Investment Research upgraded Oneok from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Tuesday, July 26th. Morgan Stanley downgraded Oneok from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $48.00 to $50.00 in a report on Tuesday. They noted that the move was a valuation call. Jefferies Group increased their price objective on Oneok from $42.00 to $43.00 and gave the stock a “hold” rating in a report on Monday, July 25th. Finally, Argus downgraded Oneok from a “buy” rating to a “hold” rating in a report on Friday, June 17th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $38.93.
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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