ONEOK, Inc. (NYSE:OKE) Stake Cut by RDA Financial Network

RDA Financial Network lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 25.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,351 shares of the utilities provider’s stock after selling 1,800 shares during the quarter. RDA Financial Network’s holdings in ONEOK were worth $537,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in OKE. National Pension Service increased its stake in ONEOK by 1.6% in the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after buying an additional 12,349 shares during the period. Leavell Investment Management Inc. increased its stake in shares of ONEOK by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares during the last quarter. Caxton Associates LP purchased a new stake in shares of ONEOK during the second quarter worth $1,225,000. Point72 Europe London LLP acquired a new stake in ONEOK during the second quarter valued at $15,008,000. Finally, Nations Financial Group Inc. IA ADV grew its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after purchasing an additional 5,451 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on OKE shares. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research note on Wednesday, December 18th. Scotiabank initiated coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $101.54.

ONEOK Stock Performance

Shares of NYSE OKE opened at $108.59 on Friday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a market cap of $63.43 billion, a P/E ratio of 22.72, a P/E/G ratio of 4.35 and a beta of 1.70. The business’s 50 day moving average is $106.04 and its two-hundred day moving average is $95.36. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the firm posted $0.99 EPS. On average, equities analysts expect that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.