Amalgamated Bank Increases Holdings in ONEOK, Inc. (OKE)
Amalgamated Bank raised its position in ONEOK, Inc. (NYSE:OKE) by 71.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,225 shares of the utilities provider’s stock after purchasing an additional 11,375 shares during the period. Amalgamated Bank’s holdings in ONEOK were worth $1,420,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in OKE. BlackRock Inc. lifted its holdings in ONEOK by 2,987.9% in the 1st quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after purchasing an additional 18,091,903 shares in the last quarter. Renaissance Technologies LLC purchased a new position in ONEOK in the 1st quarter valued at $90,888,000. Bank of New York Mellon Corp lifted its holdings in ONEOK by 25.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,825,358 shares of the utilities provider’s stock valued at $356,012,000 after purchasing an additional 1,369,438 shares in the last quarter. Janus Capital Management LLC lifted its holdings in ONEOK by 79.5% in the 1st quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock valued at $150,838,000 after purchasing an additional 1,204,683 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in ONEOK by 16.1% in the 1st quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock valued at $475,243,000 after purchasing an additional 1,190,284 shares in the last quarter. Institutional investors own 51.26% of the company’s stock.
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ONEOK, Inc. (OKE) opened at 55.06 on Friday. ONEOK, Inc. has a 52-week low of $45.41 and a 52-week high of $59.47. The firm has a 50-day moving average price of $53.98 and a 200 day moving average price of $52.90. The firm has a market capitalization of $20.92 billion, a P/E ratio of 34.50 and a beta of 1.32.
ONEOK (NYSE:OKE) last released its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.12). ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the company posted $0.40 earnings per share. Analysts forecast that ONEOK, Inc. will post $1.68 EPS for the current year.
OKE has been the subject of a number of recent research reports. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $58.00 target price on shares of ONEOK in a research note on Monday, September 11th. Credit Suisse Group cut their target price on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $52.00 target price (up from $51.00) on shares of ONEOK in a research note on Friday, September 1st. Barclays PLC initiated coverage on ONEOK in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 target price for the company. Finally, BidaskClub raised ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ONEOK has a consensus rating of “Hold” and an average target price of $57.57.
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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