ONEOK, Inc. (OKE) Shares Sold by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC trimmed its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 81.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,018 shares of the utilities provider’s stock after selling 34,586 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in ONEOK were worth $380,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after acquiring an additional 18,091,903 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of ONEOK in the first quarter valued at about $90,888,000. Bank of New York Mellon Corp raised its holdings in shares of ONEOK by 25.1% in the second 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 acquiring an additional 1,369,438 shares in the last quarter. Janus Capital Management LLC raised its holdings in shares of ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock valued at $150,838,000 after acquiring an additional 1,204,683 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its holdings in shares of ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock valued at $475,243,000 after acquiring an additional 1,190,284 shares in the last quarter. Institutional investors and hedge funds own 51.23% of the company’s stock.
ONEOK, Inc. (OKE) opened at 56.20 on Friday. ONEOK, Inc. has a 1-year low of $45.41 and a 1-year high of $59.47. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 35.21 and a beta of 1.32. The firm has a 50-day moving average price of $54.00 and a 200 day moving average price of $52.92.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same period in the prior year, the business earned $0.40 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post $1.68 EPS for the current fiscal year.
OKE has been the subject of several recent research reports. J P Morgan Chase & Co restated a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a report on Monday, September 11th. Argus restated a “buy” rating and issued a $59.00 price objective (up from $55.00) on shares of ONEOK in a report on Thursday, August 24th. Credit Suisse Group decreased their price objective on ONEOK from $64.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 3rd. Zacks Investment Research downgraded ONEOK from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Morgan Stanley downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Wednesday, July 5th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and a consensus price target of $57.57.
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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