Verity & Verity LLC lifted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 59.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,394 shares of the utilities provider’s stock after purchasing an additional 25,618 shares during the period. Verity & Verity LLC’s holdings in ONEOK were worth $4,693,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in OKE. Vanguard Group Inc. boosted its holdings in ONEOK by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock valued at $3,208,599,000 after purchasing an additional 739,353 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of ONEOK by 1.5% in the 2nd quarter. Northern Trust Corp now owns 5,017,875 shares of the utilities provider’s stock worth $345,281,000 after acquiring an additional 73,948 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of ONEOK by 19.6% in the 2nd quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock worth $229,398,000 after acquiring an additional 546,731 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of ONEOK by 2.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock worth $218,297,000 after acquiring an additional 83,906 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 4.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,106,877 shares of the utilities provider’s stock worth $213,785,000 after acquiring an additional 136,866 shares during the last quarter. 74.31% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE OKE traded up $0.54 during mid-day trading on Friday, reaching $69.51. The company had a trading volume of 1,960,532 shares, compared to its average volume of 2,254,638. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70. The firm has a 50 day simple moving average of $72.20 and a two-hundred day simple moving average of $69.24. The stock has a market cap of $28.16 billion, a P/E ratio of 25.00, a PEG ratio of 1.91 and a beta of 1.12. ONEOK, Inc. has a 52-week low of $50.26 and a 52-week high of $77.21.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company’s revenue was down 17.0% on a year-over-year basis. During the same period last year, the firm posted $0.68 EPS. On average, equities analysts expect that ONEOK, Inc. will post 3.11 EPS for the current year.
Several equities analysts have recently commented on OKE shares. Credit Suisse Group upped their price objective on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price objective on the stock. in a report on Wednesday, September 18th. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $69.00 to $75.00 in a report on Monday, August 12th. Argus upped their price objective on shares of ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday, August 6th. Finally, Mitsubishi UFJ Financial Group upped their price objective on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $72.95.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
Recommended Story: Discover Your Risk Tolerance
Receive News & Ratings for ONEOK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ONEOK and related companies with MarketBeat.com's FREE daily email newsletter.