Evanson Asset Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,538 shares of the utilities provider’s stock after buying an additional 145 shares during the period. ONEOK accounts for 0.7% of Evanson Asset Management LLC’s portfolio, making the stock its 27th largest position. Evanson Asset Management LLC’s holdings in ONEOK were worth $3,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in OKE. Ballentine Partners LLC grew its holdings in ONEOK by 18.3% in the second quarter. Ballentine Partners LLC now owns 25,538 shares of the utilities provider’s stock worth $1,758,000 after purchasing an additional 3,955 shares during the period. Point72 Asset Management L.P. purchased a new stake in ONEOK in the second quarter worth about $51,047,000. Retirement Systems of Alabama grew its holdings in shares of ONEOK by 0.4% during the second quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock valued at $13,245,000 after buying an additional 822 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its holdings in shares of ONEOK by 4.3% during the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 31,948 shares of the utilities provider’s stock valued at $2,231,000 after buying an additional 1,331 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its holdings in shares of ONEOK by 35.5% during the second quarter. Eqis Capital Management Inc. now owns 15,465 shares of the utilities provider’s stock valued at $1,064,000 after buying an additional 4,052 shares during the last quarter. 74.31% of the stock is owned by institutional investors.
OKE stock traded up $0.72 on Friday, hitting $69.70. The company had a trading volume of 939,580 shares, compared to its average volume of 2,170,857. 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 stock’s 50-day simple moving average is $72.20 and its 200 day simple moving average is $69.24. The stock has a market cap of $28.16 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.91 and a beta of 1.12.
A number of research firms have recently commented on OKE. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price target on the stock. in a report on Wednesday, September 18th. Argus increased their price target on shares of ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Mitsubishi UFJ Financial Group increased their price target on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and increased their price target for the company from $69.00 to $75.00 in a report on Monday, August 12th. Finally, Credit Suisse Group increased their price target on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. ONEOK has a consensus rating of “Hold” and a consensus price target of $72.95.
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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