Chesley Taft & Associates LLC Cuts Stake in ONEOK, Inc. (NYSE:OKE)

Chesley Taft & Associates LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,116 shares of the utilities provider’s stock after selling 363 shares during the period. Chesley Taft & Associates LLC’s holdings in ONEOK were worth $5,634,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OKE. International Assets Investment Management LLC increased its holdings in shares of ONEOK by 9,439.9% during the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock valued at $294,440,000 after acquiring an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after purchasing an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in ONEOK during the 3rd quarter valued at approximately $47,957,000. Yaupon Capital Management LP acquired a new stake in shares of ONEOK during the third quarter worth $45,194,000. Finally, National Bank of Canada FI grew its holdings in shares of ONEOK by 199.9% during the third quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after buying an additional 465,243 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Up 0.4 %

ONEOK stock opened at $109.08 on Tuesday. ONEOK, Inc. has a 12 month low of $67.05 and a 12 month high of $118.07. The stock has a market capitalization of $63.72 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 4.66 and a beta of 1.70. 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 business has a 50 day simple moving average of $106.17 and a 200-day simple moving average of $96.02.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.99 EPS. On average, analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Royal Bank of Canada boosted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.