Edge Capital Group LLC purchased a new position in shares of ONEOK, Inc. (NYSE:OKE) during the fourth quarter, HoldingsChannel reports. The fund purchased 110,218 shares of the utilities provider’s stock, valued at approximately $5,946,000.
Other institutional investors also recently made changes to their positions in the company. Captrust Financial Advisors raised its position in shares of ONEOK by 2,046.8% during the 3rd quarter. Captrust Financial Advisors now owns 32,932 shares of the utilities provider’s stock worth $2,232,000 after purchasing an additional 31,398 shares during the period. Wambolt & Associates LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $1,476,000. Eaton Vance Management acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $1,074,000. Kentucky Retirement Systems acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $1,059,000. Finally, WESPAC Advisors LLC acquired a new stake in shares of ONEOK during the 4th quarter worth approximately $2,428,000. Institutional investors and hedge funds own 74.67% of the company’s stock.
Shares of NYSE OKE opened at $68.31 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.66 and a quick ratio of 0.46. The firm has a market cap of $28.14 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.02 and a beta of 1.22. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $71.99.
A number of brokerages have recently weighed in on OKE. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Tuesday. Barclays set a $66.00 target price on ONEOK and gave the company a “hold” rating in a research report on Wednesday, January 16th. Wolfe Research started coverage on ONEOK in a research report on Thursday, December 13th. They issued an “outperform” rating and a $66.00 target price on the stock. Mizuho started coverage on ONEOK in a research report on Wednesday, November 28th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, US Capital Advisors restated a “buy” rating on shares of ONEOK in a research report on Wednesday, January 16th. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $71.21.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $66.75, for a total transaction of $100,125.00. Following the completion of the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $1,037,028. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.
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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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