Herbst Group LLC Has $3.93 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Herbst Group LLC decreased its stake in ONEOK, Inc. (NYSE:OKE) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,090 shares of the utilities provider’s stock after selling 2,815 shares during the quarter. ONEOK accounts for about 2.4% of Herbst Group LLC’s portfolio, making the stock its 15th largest position. Herbst Group LLC’s holdings in ONEOK were worth $3,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of OKE. Quest Partners LLC bought a new stake in shares of ONEOK in the 2nd quarter valued at $28,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of ONEOK by 37.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 76,533 shares of the utilities provider’s stock worth $6,241,000 after acquiring an additional 20,868 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of ONEOK by 9.7% in the second quarter. Inspire Investing LLC now owns 7,483 shares of the utilities provider’s stock worth $610,000 after acquiring an additional 659 shares in the last quarter. Intech Investment Management LLC raised its position in shares of ONEOK by 189.7% during the second quarter. Intech Investment Management LLC now owns 152,833 shares of the utilities provider’s stock worth $12,464,000 after purchasing an additional 100,073 shares during the period. Finally, Brighton Jones LLC grew its position in shares of ONEOK by 1.1% in the 2nd quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after purchasing an additional 122 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho raised shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Finally, UBS Group boosted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $101.54.

ONEOK Stock Up 0.4 %

OKE stock opened at $109.08 on Friday. ONEOK, Inc. has a fifty-two week low of $67.05 and a fifty-two week 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 stock has a market capitalization of $63.72 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70. The business’s fifty day moving average price is $106.17 and its two-hundred day moving average price is $95.65.

ONEOK (NYSE:OKE) last announced its earnings results 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). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the company earned $0.99 EPS. On average, equities analysts anticipate that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK 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.