Sanders Morris Harris LLC Sells 1,000 Shares of ONEOK, Inc. (NYSE:OKE)

Sanders Morris Harris LLC decreased its position in shares of ONEOK, Inc. (NYSE:OKE) by 7.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,199 shares of the utilities provider’s stock after selling 1,000 shares during the period. Sanders Morris Harris LLC’s holdings in ONEOK were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Stokes Capital Advisors LLC increased its stake in shares of ONEOK by 1.0% in the 2nd quarter. Stokes Capital Advisors LLC now owns 40,539 shares of the utilities provider’s stock worth $1,347,000 after acquiring an additional 395 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of ONEOK by 3.2% in the 1st quarter. Coldstream Capital Management Inc. now owns 14,571 shares of the utilities provider’s stock worth $318,000 after acquiring an additional 446 shares during the last quarter. Sun Life Financial INC increased its position in shares of ONEOK by 4.5% during the 2nd quarter. Sun Life Financial INC now owns 11,038 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 475 shares during the last quarter. American International Group Inc. increased its position in shares of ONEOK by 0.3% during the 2nd quarter. American International Group Inc. now owns 182,981 shares of the utilities provider’s stock worth $6,079,000 after purchasing an additional 477 shares during the last quarter. Finally, IBM Retirement Fund increased its position in shares of ONEOK by 5.1% during the 2nd quarter. IBM Retirement Fund now owns 10,251 shares of the utilities provider’s stock worth $341,000 after purchasing an additional 494 shares during the last quarter. Institutional investors and hedge funds own 66.65% of the company’s stock.

Shares of OKE traded down $0.92 during midday trading on Friday, hitting $28.90. The company had a trading volume of 3,849,990 shares, compared to its average volume of 4,661,848. The company’s 50-day simple moving average is $27.09 and its 200-day simple moving average is $29.90. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.31 and a current ratio of 1.71. The firm has a market capitalization of $12.96 billion, a P/E ratio of 19.40, a P/E/G ratio of 2.03 and a beta of 2.03. ONEOK, Inc. has a 1 year low of $12.16 and a 1 year high of $78.48.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.19). The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ONEOK had a net margin of 7.13% and a return on equity of 18.28%. The business’s quarterly revenue was down 32.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Equities analysts predict that ONEOK, Inc. will post 2.39 earnings per share for the current fiscal year.

OKE has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on ONEOK from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, August 21st. Argus downgraded ONEOK from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Royal Bank of Canada raised their price objective on ONEOK from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $34.00 to $36.00 in a research report on Monday, October 5th. Finally, Mizuho cut their price objective on ONEOK from $40.00 to $34.00 and set a “neutral” rating for the company in a research report on Tuesday, July 7th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. ONEOK presently has an average rating of “Hold” and a consensus target price of $35.05.

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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