ONEOK, Inc. (NYSE:OKE) Stock Holdings Boosted by Tortoise Index Solutions LLC

Tortoise Index Solutions LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 383,029 shares of the utilities provider’s stock after purchasing an additional 2,576 shares during the period. ONEOK accounts for about 8.0% of Tortoise Index Solutions LLC’s investment portfolio, making the stock its biggest holding. Tortoise Index Solutions LLC owned approximately 0.09% of ONEOK worth $26,751,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Northern Trust Corp grew its stake in shares of ONEOK by 6.4% during the first quarter. Northern Trust Corp now owns 4,943,927 shares of the utilities provider’s stock valued at $345,285,000 after buying an additional 295,729 shares during the last quarter. Commonwealth Equity Services LLC raised its position in ONEOK by 6.0% in the first quarter. Commonwealth Equity Services LLC now owns 102,759 shares of the utilities provider’s stock valued at $7,176,000 after purchasing an additional 5,847 shares during the period. FIL Ltd raised its position in ONEOK by 7.2% in the first quarter. FIL Ltd now owns 60,144 shares of the utilities provider’s stock valued at $4,200,000 after purchasing an additional 4,055 shares during the period. OppenheimerFunds Inc. raised its position in ONEOK by 23.7% in the first quarter. OppenheimerFunds Inc. now owns 636,136 shares of the utilities provider’s stock valued at $44,428,000 after purchasing an additional 121,818 shares during the period. Finally, Private Advisor Group LLC grew its stake in shares of ONEOK by 13.5% in the first quarter. Private Advisor Group LLC now owns 25,820 shares of the utilities provider’s stock worth $1,676,000 after acquiring an additional 3,075 shares in the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on OKE shares. Seaport Global Securities downgraded shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price target for the company. in a research note on Monday, April 22nd. Raymond James downgraded shares of ONEOK from a “strong-buy” rating to an “outperform” rating in a research note on Tuesday, April 16th. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Tuesday, May 7th. Mitsubishi UFJ Financial Group started coverage on shares of ONEOK in a research note on Wednesday, June 5th. They set a “neutral” rating and a $74.00 target price for the company. Finally, UBS Group upped their price objective on shares of ONEOK from $68.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $71.85.

Shares of OKE opened at $68.81 on Friday. ONEOK, Inc. has a 52-week low of $50.26 and a 52-week high of $71.99. The stock has a market cap of $27.82 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.94 and a beta of 1.19. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.79 and a quick ratio of 0.55. The business’s 50-day moving average is $66.17.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.08. ONEOK had a net margin of 9.98% and a return on equity of 18.47%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, research analysts predict that ONEOK, Inc. will post 3.07 earnings per share for the current year.

ONEOK Company Profile

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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