FormulaFolio Investments LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,669 shares of the utilities provider’s stock, valued at approximately $222,000.
Other hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its position in ONEOK by 224.9% in the first quarter. Flagship Harbor Advisors LLC now owns 1,436 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 994 shares during the last quarter. Carroll Financial Associates Inc. raised its holdings in ONEOK by 445.4% during the 2nd quarter. Carroll Financial Associates Inc. now owns 949 shares of the utilities provider’s stock valued at $31,000 after buying an additional 775 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in ONEOK during the 2nd quarter valued at $40,000. WASHINGTON TRUST Co bought a new stake in ONEOK in the 1st quarter worth $44,000. Finally, Private Capital Group LLC raised its stake in shares of ONEOK by 59.3% during the second quarter. Private Capital Group LLC now owns 1,333 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 496 shares during the last quarter. 66.65% of the stock is currently owned by institutional investors.
Shares of NYSE OKE traded up $1.45 on Wednesday, reaching $27.74. 43,602 shares of the company’s stock traded hands, compared to its average volume of 5,803,346. The business’s 50 day simple moving average is $27.98 and its two-hundred day simple moving average is $32.13. ONEOK, Inc. has a 12 month low of $12.16 and a 12 month high of $78.48. The company has a market cap of $11.68 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.84 and a beta of 2.06. The company has a quick ratio of 1.31, a current ratio of 1.71 and a debt-to-equity ratio of 2.30.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.19). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ONEOK had a return on equity of 18.28% and a net margin of 7.13%. The business’s quarterly revenue was down 32.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 EPS. Analysts forecast that ONEOK, Inc. will post 2.39 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on OKE shares. Bank of America downgraded ONEOK from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Thursday, June 11th. Stifel Nicolaus cut their price objective on ONEOK from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. JPMorgan Chase & Co. downgraded ONEOK from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, May 22nd. Citigroup cut shares of ONEOK from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $36.00 in a report on Wednesday, June 3rd. Finally, Seaport Global Securities raised shares of ONEOK from a “neutral” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Friday, August 28th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $40.80.
ONEOK Company Profile
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.
Further Reading: Profit Margin
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