Guggenheim Capital LLC Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Guggenheim Capital LLC decreased its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,916 shares of the utilities provider's stock after selling 12,385 shares during the period. Guggenheim Capital LLC's holdings in ONEOK were worth $5,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kieckhefer Group LLC purchased a new position in ONEOK during the 4th quarter valued at about $30,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK during the fourth quarter valued at approximately $48,000. VSM Wealth Advisory LLC bought a new stake in ONEOK during the 4th quarter worth approximately $50,000. Finally, OFI Invest Asset Management purchased a new stake in ONEOK in the 4th quarter worth approximately $51,000. Institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 0.6 %

OKE stock traded up $0.51 during midday trading on Wednesday, reaching $84.56. The company's stock had a trading volume of 1,986,538 shares, compared to its average volume of 4,156,474. The firm has a market capitalization of $52.82 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 3.77 and a beta of 1.20. ONEOK, Inc. has a 1 year low of $75.47 and a 1 year high of $118.07. 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 stock has a fifty day simple moving average of $92.78 and a two-hundred day simple moving average of $99.20.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Citigroup started coverage on ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price objective for the company. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Morgan Stanley boosted their price target on shares of ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Finally, Scotiabank lowered their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and an average price target 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.