ONEOK, Inc. (OKE) Position Lowered by Visionary Asset Management Inc.

Visionary Asset Management Inc. cut its stake in shares of ONEOK, Inc. (NYSE:OKE) by 13.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 61,236 shares of the utilities provider’s stock after selling 9,224 shares during the period. Visionary Asset Management Inc.’s holdings in ONEOK were worth $3,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKE. Massmutual Trust Co. FSB ADV bought a new position in ONEOK during the first quarter valued at about $100,000. Huntington National Bank boosted its position in ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock valued at $122,000 after buying an additional 554 shares during the period. Financial Architects Inc boosted its position in ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock valued at $208,000 after buying an additional 2,340 shares during the period. Agran Libbie bought a new position in ONEOK during the first quarter valued at about $213,000. Finally, Pacer Advisors Inc. boosted its position in ONEOK by 3.2% in the first quarter. Pacer Advisors Inc. now owns 3,913 shares of the utilities provider’s stock valued at $217,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Shares of ONEOK, Inc. (OKE) traded up 0.3175% during mid-day trading on Wednesday, reaching $53.7401. 885,473 shares of the company were exchanged. The stock has a market capitalization of $11.33 billion, a P/E ratio of 32.0836 and a beta of 1.30. ONEOK, Inc. has a 12 month low of $42.79 and a 12 month high of $59.47. The firm has a 50-day moving average price of $50.49 and a 200 day moving average price of $53.26.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by $0.04. ONEOK had a return on equity of 10.33% and a net margin of 3.60%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.82 billion. Equities research analysts anticipate that ONEOK, Inc. will post $2.17 EPS for the current fiscal year.

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Several research firms have recently issued reports on OKE. UBS AG upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $59.00 in a report on Wednesday, June 14th. Zacks Investment Research upgraded shares of ONEOK from a “strong sell” rating to a “hold” rating in a report on Friday, July 14th. BMO Capital Markets upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $53.00 to $59.00 in a report on Wednesday, July 5th. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective for the company. in a report on Wednesday, July 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of ONEOK in a report on Friday, March 31st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Hold” and an average price target of $57.31.

In other news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the sale, the director now owns 18,125 shares in the company, valued at approximately $912,412.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

ONEOK Company Profile

ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.

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