Strategic Investment Advisors MI Invests $220,000 in ONEOK, Inc. (NYSE:OKE)


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Strategic Investment Advisors MI bought a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,732 shares of the utilities provider’s stock, valued at approximately $220,000.

Other institutional investors have also added to or reduced their stakes in the company. Man Group plc grew its holdings in shares of ONEOK by 123.6% during the second quarter. Man Group plc now owns 23,251 shares of the utilities provider’s stock worth $772,000 after buying an additional 12,853 shares in the last quarter. IBM Retirement Fund grew its holdings in shares of ONEOK by 39.1% during the third quarter. IBM Retirement Fund now owns 14,257 shares of the utilities provider’s stock worth $370,000 after buying an additional 4,006 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of ONEOK by 8,739.9% in the fourth quarter. Sound Income Strategies LLC now owns 22,365 shares of the utilities provider’s stock valued at $858,000 after purchasing an additional 22,112 shares during the period. Orion Portfolio Solutions LLC increased its position in ONEOK by 21.7% during the second quarter. Orion Portfolio Solutions LLC now owns 14,635 shares of the utilities provider’s stock worth $486,000 after purchasing an additional 2,608 shares during the last quarter. Finally, Cambridge Financial Group Inc. raised its stake in ONEOK by 123.4% during the third quarter. Cambridge Financial Group Inc. now owns 188,974 shares of the utilities provider’s stock worth $4,910,000 after purchasing an additional 104,375 shares during the period. 58.15% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on OKE shares. Barclays raised their price target on shares of ONEOK from $33.00 to $42.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 8th. Scotiabank lowered shares of ONEOK from a “sector outperform” rating to a “sector perform” rating and set a $31.00 price target on the stock. in a research report on Monday, September 21st. ValuEngine raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Tuesday, December 1st. UBS Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Tuesday, September 29th. Finally, The Goldman Sachs Group lowered shares of ONEOK from a “neutral” rating to a “sell” rating and set a $26.00 price target on the stock. in a research report on Wednesday, October 14th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.36.

NYSE:OKE opened at $43.71 on Thursday. The company has a fifty day simple moving average of $39.41 and a two-hundred day simple moving average of $31.40. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 3.52 and a beta of 2.03. The company has a quick ratio of 1.15, a current ratio of 1.57 and a debt-to-equity ratio of 2.32. ONEOK, Inc. has a 52 week low of $12.16 and a 52 week high of $78.48.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.11. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.56 billion. ONEOK had a net margin of 7.24% and a return on equity of 18.38%. During the same quarter in the previous year, the firm posted $0.74 earnings per share. On average, analysts expect that ONEOK, Inc. will post 2.56 EPS for the current year.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in 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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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