Pflug Koory LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 64.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,272 shares of the utilities provider’s stock after selling 6,000 shares during the quarter. Pflug Koory LLC’s holdings in ONEOK were worth $241,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kayne Anderson Rudnick Investment Management LLC lifted its stake in ONEOK by 11.9% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 154,708 shares of the utilities provider’s stock valued at $10,805,000 after purchasing an additional 16,426 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in ONEOK by 18.5% during the first quarter. Belpointe Asset Management LLC now owns 2,981 shares of the utilities provider’s stock valued at $208,000 after purchasing an additional 466 shares during the last quarter. Clearbridge Investments LLC lifted its stake in ONEOK by 2.8% during the first quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock valued at $218,297,000 after purchasing an additional 83,906 shares during the last quarter. GYL Financial Synergies LLC acquired a new stake in ONEOK during the first quarter valued at approximately $792,000. Finally, Allstate Corp lifted its stake in ONEOK by 17.8% during the first quarter. Allstate Corp now owns 48,011 shares of the utilities provider’s stock valued at $3,353,000 after purchasing an additional 7,252 shares during the last quarter. 74.56% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on OKE. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a research note on Wednesday, September 18th. Credit Suisse Group increased their target price on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. UBS Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a research note on Monday, August 12th. Mitsubishi UFJ Financial Group increased their target price on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Argus boosted their price target on shares of ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. ONEOK has an average rating of “Hold” and an average target price of $72.95.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm’s revenue was down 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Research analysts expect that ONEOK, Inc. will post 3.11 earnings per share for the current fiscal year.
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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