Voya Investment Management LLC Purchases 42,861 Shares of ONEOK, Inc. (OKE)
Voya Investment Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE) by 31.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,296 shares of the utilities provider’s stock after purchasing an additional 42,861 shares during the quarter. Voya Investment Management LLC’s holdings in ONEOK were worth $9,456,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of OKE. Delta Asset Management LLC TN acquired a new position in ONEOK during the second quarter worth $103,000. Ropes Wealth Advisors LLC acquired a new position in ONEOK during the second quarter worth $103,000. Smithfield Trust Co. raised its stake in ONEOK by 107.7% during the second quarter. Smithfield Trust Co. now owns 1,994 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 1,034 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in ONEOK by 83.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 1,403 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in ONEOK by 0.5% during the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 51.26% of the company’s stock.
Several research analysts have issued reports on OKE shares. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and set a $52.00 price objective (up from $51.00) on shares of ONEOK in a research note on Friday, September 1st. BidaskClub upgraded ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, June 21st. Finally, BMO Capital Markets upgraded ONEOK from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $53.00 to $59.00 in a research note on Wednesday, July 5th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.15.
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Shares of ONEOK, Inc. (NYSE:OKE) opened at 56.19 on Friday. The stock has a 50 day moving average price of $55.05 and a 200-day moving average price of $53.06. ONEOK, Inc. has a 52 week low of $45.41 and a 52 week high of $59.47. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 35.21 and a beta of 1.30.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.64 billion. During the same period last year, the firm posted $0.40 EPS. On average, equities research analysts forecast that ONEOK, Inc. will post $1.72 earnings per share for the current year.
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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