Retirement Systems of Alabama cut its position in shares of Oneok Inc. (NYSE:OKE) by 4.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,113 shares of the company’s stock after selling 4,447 shares during the period. Retirement Systems of Alabama’s holdings in Oneok were worth $5,083,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OKE. Sasco Capital Inc. CT raised its position in Oneok by 14.4% in the first quarter. Sasco Capital Inc. CT now owns 5,670,365 shares of the company’s stock worth $169,317,000 after buying an additional 711,734 shares during the last quarter. State Street Corp raised its position in Oneok by 4.8% in the first quarter. State Street Corp now owns 10,113,298 shares of the company’s stock worth $301,992,000 after buying an additional 465,388 shares during the last quarter. Harvest Fund Advisors LLC bought a new position in Oneok during the first quarter worth about $12,773,000. BlackRock Group LTD raised its position in Oneok by 21.2% in the first quarter. BlackRock Group LTD now owns 2,310,037 shares of the company’s stock worth $68,977,000 after buying an additional 404,516 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Oneok during the second quarter worth about $14,794,000. 72.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of Oneok Inc. (NYSE:OKE) traded up 0.66% during mid-day trading on Friday, hitting $50.13. The stock had a trading volume of 1,838,263 shares. Oneok Inc. has a 12-month low of $18.84 and a 12-month high of $51.72. The company has a 50 day moving average price of $48.89 and a 200 day moving average price of $43.65. The firm has a market cap of $10.55 billion, a P/E ratio of 38.12 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 (EPS) for the quarter, missing the Zacks’ 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 last year, the firm earned $0.36 earnings per share. Equities analysts forecast that Oneok Inc. will post $1.72 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on OKE shares. Morgan Stanley lowered Oneok from an “overweight” rating to an “equal weight” rating and boosted 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 price objective for the stock from $49.00 to $52.00 in a report on Monday. Citigroup Inc. upped 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. RBC Capital Markets reaffirmed a “sector perform” rating and set a $46.00 price objective (up previously from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Finally, Jefferies Group upped 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. Fourteen analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $40.79.
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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