ONEOK Sees Unusually High Options Volume (OKE)
ONEOK, Inc. (NYSE:OKE) was the recipient of unusually large options trading on Tuesday. Investors purchased 1,156 put options on the stock. This is an increase of approximately 186% compared to the typical volume of 404 put options.
In other news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of OKE. DnB Asset Management AS increased its position in shares of ONEOK by 19.1% in the second quarter. DnB Asset Management AS now owns 23,092 shares of the utilities provider’s stock worth $1,204,000 after buying an additional 3,700 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in shares of ONEOK by 12.0% in the first quarter. Parsons Capital Management Inc. RI now owns 4,465 shares of the utilities provider’s stock worth $248,000 after buying an additional 480 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of ONEOK by 5,543.1% in the first quarter. Proficio Capital Partners LLC now owns 4,063 shares of the utilities provider’s stock worth $214,000 after buying an additional 3,991 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of ONEOK during the first quarter worth about $1,846,000. Finally, Bank of Nova Scotia increased its position in shares of ONEOK by 33.3% in the first quarter. Bank of Nova Scotia now owns 174,386 shares of the utilities provider’s stock worth $9,668,000 after buying an additional 43,584 shares during the last quarter. 81.60% of the stock is owned by institutional investors.
Shares of ONEOK (NYSE OKE) opened at 52.60 on Friday. The firm’s 50-day moving average price is $50.19 and its 200 day moving average price is $53.84. The stock has a market capitalization of $11.09 billion, a P/E ratio of 31.40 and a beta of 1.30. ONEOK has a 52 week low of $42.79 and a 52 week high of $59.47.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $2.75 billion during 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%. Analysts expect that ONEOK will post $2.15 earnings per share for the current year.
Several analysts recently weighed in on OKE shares. Zacks Investment Research downgraded ONEOK from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 4th. Jefferies Group LLC restated a “hold” rating and issued a $51.00 price target on shares of ONEOK in a research note on Friday, March 31st. BMO Capital Markets restated a “hold” rating and issued a $53.00 price target on shares of ONEOK in a research note on Monday, April 17th. Guggenheim started coverage on ONEOK in a research note on Monday, April 17th. They issued a “buy” rating and a $62.00 price target on the stock. Finally, Morgan Stanley downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target on the stock. in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. ONEOK has an average rating of “Hold” and a consensus target price of $57.17.
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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