USA Financial Formulas Trims Stock Position in ONEOK, Inc. (NYSE:OKE)

USA Financial Formulas trimmed its holdings in ONEOK, Inc. (NYSE:OKE) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,551 shares of the utilities provider’s stock after selling 356 shares during the quarter. USA Financial Formulas’ holdings in ONEOK were worth $1,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. CHURCHILL MANAGEMENT Corp boosted its position in ONEOK by 0.4% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 281,715 shares of the utilities provider’s stock worth $28,284,000 after purchasing an additional 1,180 shares in the last quarter. Burney Co. lifted its position in shares of ONEOK by 2.7% in the fourth quarter. Burney Co. now owns 6,615 shares of the utilities provider’s stock valued at $664,000 after acquiring an additional 173 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of ONEOK by 10.3% in the fourth quarter. Park Avenue Securities LLC now owns 7,602 shares of the utilities provider’s stock worth $763,000 after acquiring an additional 709 shares during the last quarter. Kathmere Capital Management LLC increased its position in shares of ONEOK by 4.0% during the fourth quarter. Kathmere Capital Management LLC now owns 3,941 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 153 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its holdings in ONEOK by 4.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 8,292 shares of the utilities provider’s stock valued at $832,000 after acquiring an additional 389 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average price target of $101.54.

ONEOK Stock Performance

Shares of OKE stock opened at $106.83 on Thursday. The stock’s 50-day moving average is $105.95 and its two-hundred day moving average is $95.28. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The firm has a market cap of $62.41 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company posted $0.99 earnings per share. Analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.