Insider Selling: ONEOK, Inc. (OKE) Director Sells 2,000 Shares of Stock
ONEOK, Inc. (NYSE:OKE) Director Eduardo A. Rodriguez sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total transaction of $100,680.00. Following the sale, the director now owns 18,125 shares in the company, valued at $912,412.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
ONEOK, Inc. (NYSE:OKE) traded down 1.49% during trading on Monday, hitting $50.21. 2,633,474 shares of the company traded hands. The stock has a 50-day moving average price of $50.68 and a 200-day moving average price of $54.24. ONEOK, Inc. has a 12-month low of $42.79 and a 12-month high of $59.47. The firm has a market capitalization of $10.59 billion, a P/E ratio of 29.98 and a beta of 1.28.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.45 by $0.04. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.82 billion. ONEOK had a return on equity of 10.33% and a net margin of 3.60%. Equities analysts expect that ONEOK, Inc. will post $1.88 EPS for the current fiscal year.
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Several analysts have commented on the stock. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a report on Monday, March 6th. BMO Capital Markets restated a “hold” rating and set a $53.00 target price on shares of ONEOK in a report on Wednesday, March 1st. Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, March 8th. Guggenheim initiated coverage on shares of ONEOK in a report on Monday, April 17th. They set a “buy” rating and a $62.00 target price on the stock. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $58.00 price target on shares of ONEOK in a research note on Friday, May 12th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.30.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after buying an additional 18,091,903 shares during the last quarter. Norges Bank purchased a new position in ONEOK during the fourth quarter valued at $106,193,000. Renaissance Technologies LLC purchased a new position in ONEOK during the first quarter valued at $90,888,000. Janus Capital Management LLC increased its position in ONEOK by 79.5% in the first quarter. Janus Capital Management LLC now owns 2,720,745 shares of the utilities provider’s stock valued at $150,838,000 after buying an additional 1,204,683 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock valued at $475,243,000 after buying an additional 1,190,284 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.
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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