Marathon Capital Management maintained its stake in shares of ONEOK, Inc. (NYSE:OKE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the utilities provider’s stock at the close of the 2nd quarter. Marathon Capital Management’s holdings in ONEOK were worth $313,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in OKE. Delta Asset Management LLC TN purchased a new position in shares of ONEOK during the 2nd quarter valued at $103,000. Smithfield Trust Co. lifted its holdings in ONEOK by 107.7% during the 2nd quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after purchasing an additional 1,034 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in ONEOK by 83.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock worth $161,000 after purchasing an additional 1,403 shares in the last quarter. CHICAGO TRUST Co NA lifted its holdings in ONEOK by 0.5% during the 2nd quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after purchasing an additional 20 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in ONEOK by 5,543.1% during the 1st quarter. Proficio Capital Partners LLC now owns 4,063 shares of the utilities provider’s stock worth $214,000 after purchasing an additional 3,991 shares in the last quarter. Hedge funds and other institutional investors own 51.23% of the company’s stock.
ONEOK, Inc. (OKE) traded down 0.26% during trading on Friday, reaching $56.73. The company had a trading volume of 1,137,882 shares. The stock has a 50 day moving average price of $54.01 and a 200 day moving average price of $52.90. ONEOK, Inc. has a 52 week low of $45.41 and a 52 week high of $59.47. The firm has a market capitalization of $21.56 billion, a P/E ratio of 35.55 and a beta of 1.32.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.12). ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The company had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the business earned $0.40 EPS. Analysts predict that ONEOK, Inc. will post $1.68 earnings per share for the current year.
Several equities analysts have recently commented on the company. BidaskClub upgraded ONEOK from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. UBS AG upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. BMO Capital Markets upgraded ONEOK from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $53.00 to $59.00 in a report on Wednesday, July 5th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, June 21st. Finally, Barclays PLC began coverage on ONEOK in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 target price for the company. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $57.57.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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