Short Interest in Oneok Inc. (OKE) Rises By 29.5%
Oneok Inc. (NYSE:OKE) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 16,961,607 shares, an increase of 29.5% from the September 15th total of 13,099,839 shares. Based on an average trading volume of 2,200,087 shares, the days-to-cover ratio is presently 7.7 days. Approximately 8.1% of the shares of the stock are sold short.
Shares of Oneok (NYSE:OKE) opened at 50.13 on Monday. Oneok has a 52 week low of $18.84 and a 52 week high of $51.72. The stock has a 50 day moving average price of $48.89 and a 200 day moving average price of $43.65. The firm has a market cap of $10.55 billion, a PE ratio of 38.12 and a beta of 1.10.
Oneok (NYSE:OKE) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Oneok had a net margin of 3.58% and a return on equity of 9.41%. During the same period in the prior year, the business posted $0.36 EPS. Equities analysts expect that Oneok will post $1.72 earnings per share for the current year.
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A number of research firms have recently weighed in on OKE. Morgan Stanley downgraded Oneok from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $50.00 in a research report on Tuesday, October 4th. They noted that the move was a valuation call. Jefferies Group reiterated a “hold” rating and set a $46.00 target price on shares of Oneok in a research report on Sunday. Deutsche Bank AG upgraded Oneok from a “sell” rating to a “hold” rating and upped their target price for the company from $49.00 to $52.00 in a research report on Monday, October 10th. RBC Capital Markets reissued a “sector perform” rating and set a $46.00 price target (up previously from $39.00) on shares of Oneok in a report on Tuesday, August 16th. Finally, Royal Bank Of Canada boosted their price target on Oneok from $39.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.00.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Oneok by 7.3% in the second quarter. Vanguard Group Inc. now owns 20,707,166 shares of the company’s stock valued at $982,554,000 after buying an additional 1,401,380 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Oneok by 6.2% in the second quarter. BlackRock Fund Advisors now owns 11,605,034 shares of the company’s stock valued at $550,659,000 after buying an additional 677,055 shares during the period. State Street Corp raised its stake in shares of Oneok by 4.8% in the first quarter. State Street Corp now owns 10,113,298 shares of the company’s stock valued at $301,992,000 after buying an additional 465,388 shares during the period. Sasco Capital Inc. CT raised its stake in shares of Oneok by 14.4% in the first quarter. Sasco Capital Inc. CT now owns 5,670,365 shares of the company’s stock valued at $169,317,000 after buying an additional 711,734 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Oneok by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 4,038,472 shares of the company’s stock valued at $191,625,000 after buying an additional 724,684 shares during the period. 72.28% of the stock is owned by institutional investors.
Oneok Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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