CANADA LIFE ASSURANCE Co Sells 20,479 Shares of ONEOK, Inc. (NYSE:OKE)

CANADA LIFE ASSURANCE Co reduced its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 754,750 shares of the utilities provider's stock after selling 20,479 shares during the period. CANADA LIFE ASSURANCE Co owned 0.13% of ONEOK worth $75,738,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Morse Asset Management Inc purchased a new position in shares of ONEOK during the third quarter valued at approximately $346,000. Barclays PLC raised its holdings in shares of ONEOK by 16.1% in the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock valued at $172,131,000 after purchasing an additional 262,486 shares during the last quarter. Virtu Financial LLC bought a new stake in ONEOK in the 3rd quarter worth about $2,258,000. Fulcrum Equity Management lifted its position in shares of ONEOK by 1.1% during the 3rd quarter. Fulcrum Equity Management now owns 46,681 shares of the utilities provider's stock worth $4,254,000 after buying an additional 526 shares in the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of ONEOK by 154.1% in the 3rd quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider's stock worth $959,000 after buying an additional 6,381 shares during the last quarter. Institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

OKE stock traded up $0.49 during midday trading on Wednesday, reaching $84.54. The company had a trading volume of 2,225,788 shares, compared to its average volume of 3,159,384. The firm has a 50-day moving average price of $92.78 and a 200-day moving average price of $99.20. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $52.81 billion, a P/E ratio of 17.69, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The business had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OKE shares. Barclays decreased their target price on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Scotiabank reduced their price objective on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a report on Thursday, March 6th. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price target on the stock in a research report on Monday, February 10th. Finally, US Capital Advisors upgraded shares of ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and an average target price of $106.42.

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.