ONEOK, Inc. (NYSE:OKE) Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel increased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 63.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,059 shares of the utilities provider's stock after purchasing an additional 4,299 shares during the quarter. Carnegie Investment Counsel's holdings in ONEOK were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider's stock valued at $294,440,000 after buying an additional 3,197,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 worth $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ONEOK in the third quarter valued at about $47,957,000. Yaupon Capital Management LP acquired a new stake in ONEOK during the 3rd quarter valued at approximately $45,194,000. Finally, National Bank of Canada FI increased its holdings in ONEOK by 199.9% during the 3rd 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 last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Bank of America initiated coverage on shares of ONEOK in a research report on Thursday, October 17th. They set a "buy" rating and a $105.00 price target for the company. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. US Capital Advisors raised ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price objective on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Wednesday, October 16th. Finally, Mizuho upgraded shares of ONEOK to a "hold" rating in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.54.

ONEOK Stock Performance

Shares of OKE traded up $0.42 during mid-day trading on Friday, reaching $109.08. 3,093,017 shares of the company's stock traded hands, compared to its average volume of 2,475,531. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The business's 50-day moving average price is $106.17 and its 200-day moving average price is $95.74. The stock has a market capitalization of $63.72 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 for the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm earned $0.99 EPS. Equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current 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.