IHT Wealth Management LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 60.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,253 shares of the utilities provider’s stock after buying an additional 3,486 shares during the quarter. IHT Wealth Management LLC’s holdings in ONEOK were worth $499,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of ONEOK by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock valued at $207,436,000 after purchasing an additional 671,577 shares in the last quarter. Alliancebernstein L.P. grew its stake in ONEOK by 0.4% during the third quarter. Alliancebernstein L.P. now owns 670,753 shares of the utilities provider’s stock valued at $45,470,000 after acquiring an additional 2,366 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in ONEOK by 6.3% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock valued at $997,880,000 after acquiring an additional 877,072 shares in the last quarter. Janus Henderson Group PLC grew its stake in ONEOK by 177.9% during the third quarter. Janus Henderson Group PLC now owns 1,320,474 shares of the utilities provider’s stock valued at $89,515,000 after acquiring an additional 845,352 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in ONEOK by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 6,655,355 shares of the utilities provider’s stock valued at $451,167,000 after acquiring an additional 31,370 shares in the last quarter. Institutional investors own 75.67% of the company’s stock.
Several equities research analysts have issued reports on OKE shares. UBS Group lifted their target price on shares of ONEOK from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group lowered shares of ONEOK from a “buy” rating to a “hold” rating and lifted their target price for the company from $72.00 to $74.00 in a research report on Monday, April 1st. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Tuesday, March 19th. Mizuho set a $73.00 price objective on shares of ONEOK and gave the stock a “hold” rating in a report on Tuesday, February 26th. Finally, Evercore ISI initiated coverage on shares of ONEOK in a report on Tuesday, February 5th. They issued a $68.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. ONEOK currently has an average rating of “Buy” and a consensus target price of $71.11.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Monday, February 25th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.04). The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.31 billion. ONEOK had a net margin of 9.14% and a return on equity of 17.10%. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 3.01 earnings per share for the current year.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $66.75, for a total transaction of $100,125.00. Following 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 legal filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.
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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