Evanson Asset Management LLC Raises Stock Position in ONEOK, Inc. (NYSE:OKE)

Evanson Asset Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.3% in the third quarter, Holdings Channel.com reports. The firm owned 45,538 shares of the utilities provider’s stock after purchasing an additional 145 shares during the quarter. ONEOK comprises approximately 0.7% of Evanson Asset Management LLC’s investment portfolio, making the stock its 27th biggest position. Evanson Asset Management LLC’s holdings in ONEOK were worth $3,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in OKE. Point72 Asset Management L.P. purchased a new position in shares of ONEOK during the 2nd quarter worth about $51,047,000. Vanguard Group Inc. boosted its stake in shares of ONEOK by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 46,629,850 shares of the utilities provider’s stock worth $3,208,599,000 after purchasing an additional 739,353 shares during the period. Scout Investments Inc. purchased a new position in shares of ONEOK during the 3rd quarter worth about $44,621,000. Invesco Ltd. boosted its stake in shares of ONEOK by 19.6% during the 2nd quarter. Invesco Ltd. now owns 3,333,770 shares of the utilities provider’s stock worth $229,398,000 after purchasing an additional 546,731 shares during the period. Finally, Energy Income Partners LLC boosted its stake in shares of ONEOK by 23.4% during the 2nd quarter. Energy Income Partners LLC now owns 2,461,190 shares of the utilities provider’s stock worth $169,355,000 after purchasing an additional 467,114 shares during the period. 74.31% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on OKE. Argus lifted their price target on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. UBS Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $69.00 to $75.00 in a research note on Monday, August 12th. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price target for the company. in a research note on Wednesday, September 18th. Mitsubishi UFJ Financial Group lifted their price target on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Credit Suisse Group lifted their price target on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. ONEOK has an average rating of “Hold” and a consensus price target of $72.95.

OKE traded up $0.72 on Friday, reaching $69.70. 939,580 shares of the company traded hands, compared to its average volume of 2,170,857. ONEOK, Inc. has a one year low of $50.26 and a one year high of $77.21. The firm has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $69.24. The company has a market cap of $28.16 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.12. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was down 17.0% on a year-over-year basis. On average, equities analysts forecast that ONEOK, Inc. will post 3.11 earnings per share for the current year.

About ONEOK

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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