Ronna Sue Cohen Grows Holdings in ONEOK, Inc. (OKE)
Ronna Sue Cohen raised its stake in ONEOK, Inc. (NYSE:OKE) by 6,877.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,706,461 shares of the utilities provider’s stock after purchasing an additional 2,667,673 shares during the quarter. ONEOK comprises about 1.8% of Ronna Sue Cohen’s investment portfolio, making the stock its 24th biggest position. Ronna Sue Cohen owned 0.66% of ONEOK worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in OKE. Norges Bank purchased a new position in ONEOK in the fourth quarter valued at about $209,832,000. Zimmer Partners LP raised its position in ONEOK by 279.5% in the fourth quarter. Zimmer Partners LP now owns 3,712,700 shares of the utilities provider’s stock valued at $200,300,000 after purchasing an additional 2,734,500 shares during the period. BlackRock Inc. raised its position in ONEOK by 6.5% in the fourth quarter. BlackRock Inc. now owns 41,353,551 shares of the utilities provider’s stock valued at $2,231,023,000 after purchasing an additional 2,533,165 shares during the period. Oregon Public Employees Retirement Fund raised its position in ONEOK by 5,259.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,415,665 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 2,370,592 shares during the period. Finally, Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 6.3% in 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 purchasing an additional 877,072 shares during the period. 75.54% of the stock is currently owned by institutional investors.
OKE has been the topic of several research reports. UBS Group raised their price objective on ONEOK from $68.00 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. SunTrust Banks initiated coverage on ONEOK in a research report on Friday, January 18th. They issued a “buy” rating and a $72.00 price objective on the stock. Mizuho set a $73.00 price objective on ONEOK and gave the company a “hold” rating in a research report on Tuesday, February 26th. Morgan Stanley lowered ONEOK to a “hold” rating in a research report on Thursday, December 20th. Finally, JPMorgan Chase & Co. upgraded ONEOK from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $75.00 to $74.00 in a research note on Tuesday, January 8th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $71.11.
Shares of ONEOK stock traded down $0.27 during trading hours on Wednesday, hitting $69.97. 32,863 shares of the company’s stock traded hands, compared to its average volume of 1,927,893. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.66 and a quick ratio of 0.46. The company has a market capitalization of $29.03 billion, a PE ratio of 25.19, a P/E/G ratio of 2.03 and a beta of 1.23. ONEOK, Inc. has a twelve month low of $50.26 and a twelve month high of $71.99.
ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 25th. The utilities provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.31 billion. ONEOK had a net margin of 9.14% and a return on equity of 17.10%. During the same quarter in the prior year, the business earned $0.53 earnings per share. On average, equities analysts expect that ONEOK, Inc. will post 3.01 earnings per share for the current fiscal year.
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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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