Traders Sell Shares of ONEOK (OKE) on Strength (OKE)

Investors sold shares of ONEOK, Inc. (NYSE:OKE) on strength during trading hours on Wednesday. $15.85 million flowed into the stock on the tick-up and $48.40 million flowed out of the stock on the tick-down, for a money net flow of $32.55 million out of the stock. Of all equities tracked, ONEOK had the 0th highest net out-flow for the day. ONEOK traded up $0.25 for the day and closed at $56.74

A number of research analysts recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of ONEOK in a research note on Monday. They issued an “outperform” rating and a $62.00 price objective on the stock. Wells Fargo & Co upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating in a research report on Thursday. Bank of America started coverage on shares of ONEOK in a research report on Tuesday. They issued a “neutral” rating on the stock. BMO Capital Markets set a $62.00 target price on shares of ONEOK and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $55.00 target price on shares of ONEOK in a research report on Friday, November 3rd. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.14.

The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $22,360.00, a PE ratio of 36.48, a price-to-earnings-growth ratio of 2.88 and a beta of 1.26.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same quarter in the prior year, the business earned $0.43 EPS. research analysts expect that ONEOK, Inc. will post 1.79 earnings per share for the current year.

In other ONEOK news, Director Brian L. Derksen purchased 1,800 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were bought at an average price of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ONEOK by 17.3% during the second quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after purchasing an additional 4,002,795 shares during the period. BlackRock Inc. lifted its holdings in shares of ONEOK by 28.4% during the second quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after purchasing an additional 5,317,251 shares during the period. State Street Corp lifted its holdings in shares of ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after purchasing an additional 6,086,061 shares during the period. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of ONEOK by 269.7% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock worth $739,659,000 after purchasing an additional 9,737,701 shares during the period. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of ONEOK by 184.7% during the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after purchasing an additional 6,148,494 shares during the period. Institutional investors own 70.89% of the company’s stock.

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ONEOK Company Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

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