Shelton Capital Management bought a new position in ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,558 shares of the utilities provider’s stock, valued at approximately $342,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of OKE. Delta Asset Management LLC TN acquired a new stake in ONEOK in the second quarter worth $103,000. Ropes Wealth Advisors LLC acquired a new stake in ONEOK in the second quarter worth $103,000. Smithfield Trust Co. increased its position in ONEOK by 107.7% in the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after buying an additional 1,034 shares during the period. Capstone Investment Advisors Netherlands B.V. increased its position in ONEOK by 31.3% in the second quarter. Capstone Investment Advisors Netherlands B.V. now owns 3,071 shares of the utilities provider’s stock worth $160,000 after buying an additional 732 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its position in ONEOK by 83.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock worth $161,000 after buying an additional 1,403 shares during the period. 51.26% of the stock is currently owned by hedge funds and other institutional investors.
ONEOK, Inc. (NYSE OKE) opened at 56.41 on Friday. The stock has a 50 day moving average price of $55.53 and a 200 day moving average price of $53.16. The company has a market cap of $21.44 billion, a PE ratio of 35.34 and a beta of 1.30. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.12). ONEOK had a net margin of 3.26% and a return on equity of 8.62%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities analysts forecast that ONEOK, Inc. will post $1.72 earnings per share for the current year.
Several brokerages have weighed in on OKE. Stifel Nicolaus reaffirmed a “hold” rating and issued a $54.00 target price on shares of ONEOK in a research report on Thursday. BidaskClub cut ONEOK from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Mizuho assumed coverage on ONEOK in a research note on Tuesday. They issued a “neutral” rating and a $59.00 price target for the company. Zacks Investment Research raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday, July 14th. Finally, Credit Suisse Group decreased their price target on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $58.15.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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