ONEOK, Inc. (NYSE:OKE) Position Cut by Herbst Group LLC

Herbst Group LLC decreased its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 39,090 shares of the utilities provider's stock after selling 2,815 shares during the period. ONEOK comprises approximately 2.4% of Herbst Group LLC's portfolio, making the stock its 15th biggest holding. Herbst Group LLC's holdings in ONEOK were worth $3,925,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Quest Partners LLC acquired a new position in ONEOK during the second quarter worth about $28,000. Mercer Global Advisors Inc. ADV raised its position in shares of ONEOK by 37.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 76,533 shares of the utilities provider's stock worth $6,241,000 after purchasing an additional 20,868 shares during the last quarter. Inspire Investing LLC lifted its stake in ONEOK by 9.7% in the 2nd quarter. Inspire Investing LLC now owns 7,483 shares of the utilities provider's stock valued at $610,000 after buying an additional 659 shares in the last quarter. Intech Investment Management LLC grew its holdings in ONEOK by 189.7% during the 2nd quarter. Intech Investment Management LLC now owns 152,833 shares of the utilities provider's stock valued at $12,464,000 after buying an additional 100,073 shares during the last quarter. Finally, Brighton Jones LLC increased its position in ONEOK by 1.1% during the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider's stock worth $935,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

NYSE OKE traded up $0.42 during trading hours on Friday, reaching $109.08. The company's stock had a trading volume of 3,093,017 shares, compared to its average volume of 2,475,531. The stock has a market cap of $63.72 billion, a PE ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. The business has a 50-day simple moving average of $106.17 and a 200 day simple moving average of $95.74. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. Equities research analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKE. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Bank of America started coverage on ONEOK in a report on Thursday, October 17th. They set a "buy" rating and a $105.00 target price for the company. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 16th. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 price target for the company. Finally, Wells Fargo & Company lowered ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $101.54.

ONEOK Company Profile

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.