Calamos Advisors LLC lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,587 shares of the utilities provider’s stock after purchasing an additional 9,746 shares during the period. Calamos Advisors LLC’s holdings in ONEOK were worth $8,223,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in OKE. Point72 Asset Management L.P. bought a new position in shares of ONEOK during the second quarter worth approximately $51,047,000. Vanguard Group Inc. increased its stake in shares of ONEOK by 1.6% during the second 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. bought a new position in shares of ONEOK during the third quarter worth approximately $44,621,000. Invesco Ltd. increased its stake in shares of ONEOK by 19.6% during the second 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 increased its stake in shares of ONEOK by 23.4% during the second 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. Institutional investors own 74.55% of the company’s stock.
A number of equities analysts have recently weighed in on OKE shares. Credit Suisse Group increased their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Barclays set a $79.00 target price on ONEOK and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Mitsubishi UFJ Financial Group increased their target price on ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Argus increased their target price on ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a research note on Wednesday, September 18th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and a consensus price target of $73.67.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm’s quarterly revenue was down 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.68 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 3.11 EPS for the current fiscal 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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