USA Financial Formulas Decreases Stake in ONEOK, Inc. (NYSE:OKE)

USA Financial Formulas decreased its holdings in ONEOK, Inc. (NYSE:OKE) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 11,551 shares of the utilities provider’s stock after selling 356 shares during the quarter. USA Financial Formulas’ holdings in ONEOK were worth $1,160,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OKE. International Assets Investment Management LLC lifted its stake in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after buying an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK during the third quarter worth $47,957,000. Yaupon Capital Management LP purchased a new stake in shares of ONEOK in the third quarter valued at $45,194,000. Finally, National Bank of Canada FI increased its stake in ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $106.83 on Thursday. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07. The stock has a market cap of $62.41 billion, a P/E ratio of 22.35, a PEG ratio of 4.35 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a 50-day moving average of $105.95 and a two-hundred day moving average of $95.28.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company earned $0.99 earnings per share. On average, research analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OKE. Royal Bank of Canada raised their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Barclays boosted their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.