Cadence Capital Management LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 1.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 391,265 shares of the utilities provider’s stock after selling 6,772 shares during the quarter. ONEOK comprises 2.5% of Cadence Capital Management LLC’s portfolio, making the stock its 8th largest position. Cadence Capital Management LLC owned approximately 0.09% of ONEOK worth $10,165,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Rockbridge Investment Management LCC purchased a new stake in shares of ONEOK during the second quarter valued at approximately $27,000. Carroll Financial Associates Inc. grew its holdings in shares of ONEOK by 445.4% during the second 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. bought a new position in ONEOK during the second quarter valued at approximately $40,000. Private Capital Group LLC lifted its position in 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 purchasing an additional 496 shares during the period. Finally, Allworth Financial LP lifted its position in ONEOK by 191.6% during the second quarter. Allworth Financial LP now owns 1,356 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 891 shares during the period. Hedge funds and other institutional investors own 66.65% of the company’s stock.
OKE has been the topic of a number of research analyst reports. Scotiabank downgraded shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and set a $31.00 price objective on the stock. in a research report on Monday, September 21st. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Tuesday, September 29th. Wells Fargo & Company upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $34.00 to $36.00 in a research report on Monday, October 5th. ValuEngine downgraded shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $35.05.
OKE traded down $0.92 on Friday, reaching $28.90. 3,849,990 shares of the company traded hands, compared to its average volume of 4,661,848. ONEOK, Inc. has a one year low of $12.16 and a one year high of $78.48. The firm has a fifty day simple moving average of $27.09 and a two-hundred day simple moving average of $29.90. The company has a market cap of $12.96 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 2.03 and a beta of 2.03. 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 announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.19). ONEOK had a net margin of 7.13% and a return on equity of 18.28%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was down 32.4% compared to the same quarter last year. On average, equities analysts forecast that ONEOK, Inc. will post 2.39 earnings per share for the current year.
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.
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