Griffin Asset Management Inc. cut its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 4.3% in the second quarter, HoldingsChannel reports. The firm owned 20,810 shares of the utilities provider’s stock after selling 925 shares during the period. Griffin Asset Management Inc.’s holdings in ONEOK were worth $1,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC acquired a new position in ONEOK during the second quarter valued at $27,000. JNBA Financial Advisors lifted its position in ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares during the period. IMA Wealth Inc. acquired a new position in ONEOK during the second quarter valued at $32,000. Gradient Investments LLC lifted its position in ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 260 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its position in ONEOK by 498.0% during the second quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 508 shares during the period. Institutional investors own 74.31% of the company’s stock.
A number of research analysts recently issued reports on OKE shares. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research report on Monday, August 12th. Zacks Investment Research downgraded shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a research report on Wednesday, September 18th. Argus boosted their target price on shares of ONEOK to $82.00 and gave the company an “average” rating in a research report on Tuesday, August 6th. Credit Suisse Group lifted their price objective on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Mitsubishi UFJ Financial Group lifted their price objective on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $72.69.
OKE traded up $0.11 on Monday, reaching $73.41. The stock had a trading volume of 420,671 shares, compared to its average volume of 2,133,541. ONEOK, Inc. has a 12-month low of $50.26 and a 12-month high of $77.21. The company has a current ratio of 0.81, a quick ratio of 0.60 and a debt-to-equity ratio of 1.70. The business’s 50-day moving average price is $71.59 and its two-hundred day moving average price is $68.97. The company has a market cap of $30.35 billion, a P/E ratio of 26.41, a price-to-earnings-growth ratio of 2.05 and a beta of 1.13.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. As a group, analysts predict that ONEOK, Inc. will post 3.12 earnings per share for the current 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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