ONEOK, Inc. (OKE) Shares Sold by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX reduced its position in ONEOK, Inc. (NYSE:OKE) by 12.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,968 shares of the utilities provider’s stock after selling 8,407 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in ONEOK were worth $3,259,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. increased its holdings in ONEOK by 269.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after buying an additional 9,737,701 shares during the last quarter. Harvest Fund Advisors LLC bought a new stake in ONEOK in the third quarter valued at about $414,256,000. Kayne Anderson Capital Advisors LP increased its holdings in ONEOK by 184.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after buying an additional 6,148,494 shares during the last quarter. State Street Corp increased its holdings in ONEOK by 53.7% in the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after buying an additional 6,086,061 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in ONEOK by 28.4% in the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after buying an additional 5,317,251 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.
ONEOK, Inc. (OKE) opened at $58.67 on Friday. The company has a market capitalization of $23,955.39, a P/E ratio of 36.67, a PEG ratio of 2.25 and a beta of 1.25. ONEOK, Inc. has a fifty-two week low of $47.14 and a fifty-two week high of $59.30. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.
Several brokerages recently weighed in on OKE. Credit Suisse Group began coverage on ONEOK in a report on Monday, January 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Bank of America began coverage on ONEOK in a report on Tuesday. They issued a “neutral” rating for the company. Wells Fargo & Co raised ONEOK from a “market perform” rating to an “outperform” rating in a report on Thursday. BMO Capital Markets set a $62.00 price objective on ONEOK and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $55.00 target price on shares of ONEOK in a report on Friday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.14.
In related news, Director Brian L. Derksen bought 1,800 shares of the stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is currently owned by corporate insiders.
ONEOK Company Profile
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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