Carnegie Investment Counsel Acquires 4,299 Shares of ONEOK, Inc. (NYSE:OKE)

Carnegie Investment Counsel raised its holdings in ONEOK, Inc. (NYSE:OKE) by 63.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,059 shares of the utilities provider’s stock after purchasing an additional 4,299 shares during the period. Carnegie Investment Counsel’s holdings in ONEOK were worth $1,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. International Assets Investment Management LLC boosted its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ONEOK in the third quarter worth $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK in the third quarter worth $45,194,000. Finally, National Bank of Canada FI raised its holdings in ONEOK by 199.9% in the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock worth $63,605,000 after purchasing an additional 465,243 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on OKE shares. Scotiabank started coverage on shares of ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 target price on the stock. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a report on Wednesday, December 18th. Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Bank of America began coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Finally, Royal Bank of Canada raised their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Stock Up 0.4 %

Shares of OKE stock opened at $109.08 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The firm’s fifty day moving average price is $106.17 and its two-hundred day moving average price is $95.65. The firm has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70.

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

About ONEOK

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.