AE Wealth Management LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 77.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,532 shares of the utilities provider’s stock after selling 18,944 shares during the period. AE Wealth Management LLC’s holdings in ONEOK were worth $386,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of OKE. Tower Research Capital LLC TRC bought a new position in shares of ONEOK in the second quarter worth $370,000. Vident Investment Advisory LLC increased its position in shares of ONEOK by 9.1% in the second quarter. Vident Investment Advisory LLC now owns 10,879 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 910 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of ONEOK in the second quarter worth $352,000. Natixis bought a new position in shares of ONEOK in the second quarter worth $10,604,000. Finally, Samson Capital Management LLC bought a new position in shares of ONEOK in the second quarter worth $4,368,000. Hedge funds and other institutional investors own 73.17% of the company’s stock.
A number of brokerages recently commented on OKE. Royal Bank of Canada raised their price target on ONEOK from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday, July 6th. Zacks Investment Research cut ONEOK from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 19th. Barclays raised their price target on ONEOK from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 11th. US Capital Advisors restated a “buy” rating on shares of ONEOK in a research report on Tuesday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, July 27th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.53.
NYSE:OKE opened at $66.39 on Friday. The stock has a market capitalization of $26.78 billion, a P/E ratio of 37.72, a price-to-earnings-growth ratio of 2.54 and a beta of 0.98. The company has a current ratio of 0.56, a quick ratio of 0.40 and a debt-to-equity ratio of 1.04. ONEOK, Inc. has a twelve month low of $49.65 and a twelve month high of $71.99.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.20 billion. ONEOK had a return on equity of 14.70% and a net margin of 6.07%. equities analysts predict that ONEOK, Inc. will post 2.7 EPS for the current fiscal year.
In other ONEOK news, Director Brian L. Derksen acquired 1,500 shares of ONEOK stock in a transaction that occurred on Monday, August 6th. The shares were acquired at an average cost of $67.60 per share, with a total value of $101,400.00. Following the completion of the purchase, the director now directly owns 5,100 shares of the company’s stock, valued at approximately $344,760. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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