Northwestern Mutual Wealth Management Co. Increases Position in ONEOK, Inc. (OKE)

Northwestern Mutual Wealth Management Co. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 37.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,974 shares of the utilities provider’s stock after buying an additional 1,630 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ONEOK were worth $332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV acquired a new position in shares of ONEOK during the first quarter worth approximately $100,000. Blenheim Capital Management BV purchased a new position in ONEOK during the fourth quarter worth about $122,000. Huntington National Bank boosted its position in ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock worth $122,000 after buying an additional 554 shares during the last quarter. Tuttle Tactical Management LLC purchased a new position in ONEOK during the third quarter worth about $151,000. Finally, Virtus Investment Advisers Inc. purchased a new position in ONEOK during the third quarter worth about $159,000. 81.59% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

Shares of ONEOK, Inc. (OKE) opened at 50.97 on Monday. ONEOK, Inc. has a 12-month low of $42.79 and a 12-month high of $59.47. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 30.43 and a beta of 1.28. The stock has a 50 day moving average of $50.68 and a 200 day moving average of $54.24.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by $0.04. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.82 billion. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. Equities research analysts predict that ONEOK, Inc. will post $1.88 earnings per share for the current fiscal year.

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Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a research report on Monday, March 6th. BMO Capital Markets reissued a “hold” rating and set a $53.00 price objective on shares of ONEOK in a research note on Wednesday, March 1st. Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, March 8th. Guggenheim assumed coverage on shares of ONEOK in a research note on Monday, April 17th. They issued a “buy” rating and a $62.00 target price on the stock. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $58.00 target price on shares of ONEOK in a research note on Friday, May 12th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $57.30.

About ONEOK

ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.

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