Centre Asset Management LLC Sells 2,350 Shares of ONEOK, Inc. (NYSE:OKE)

Centre Asset Management LLC lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,422 shares of the utilities provider’s stock after selling 2,350 shares during the quarter. Centre Asset Management LLC’s holdings in ONEOK were worth $1,243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Evanson Asset Management LLC boosted its position in shares of ONEOK by 0.3% during the 3rd quarter. Evanson Asset Management LLC now owns 45,538 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 145 shares in the last quarter. Haverford Trust Co. boosted its position in shares of ONEOK by 5.2% during the 3rd quarter. Haverford Trust Co. now owns 3,110 shares of the utilities provider’s stock worth $229,000 after purchasing an additional 155 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of ONEOK by 0.3% during the 3rd quarter. Moors & Cabot Inc. now owns 45,389 shares of the utilities provider’s stock worth $3,348,000 after purchasing an additional 157 shares in the last quarter. Washington Trust Bank boosted its position in shares of ONEOK by 3.1% during the 3rd quarter. Washington Trust Bank now owns 5,641 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 170 shares in the last quarter. Finally, Laffer Investments boosted its position in shares of ONEOK by 1.8% during the 2nd quarter. Laffer Investments now owns 9,905 shares of the utilities provider’s stock worth $682,000 after purchasing an additional 174 shares in the last quarter. 73.29% of the stock is currently owned by institutional investors and hedge funds.

NYSE:OKE traded down $0.27 on Tuesday, hitting $75.97. The stock had a trading volume of 2,273,331 shares, compared to its average volume of 1,775,259. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26. The stock has a market cap of $31.20 billion, a P/E ratio of 27.33, a price-to-earnings-growth ratio of 1.87 and a beta of 1.15. ONEOK, Inc. has a 1 year low of $59.61 and a 1 year high of $77.21. The firm’s fifty day simple moving average is $73.96 and its two-hundred day simple moving average is $71.46.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.36 billion. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. During the same quarter last year, the business posted $0.75 EPS. Equities research analysts predict that ONEOK, Inc. will post 3.08 EPS for the current year.

In other news, CAO Mary M. Spears sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.85, for a total transaction of $143,700.00. Following the completion of the sale, the chief accounting officer now owns 10,263 shares in the company, valued at approximately $737,396.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark W. Helderman purchased 6,094 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $73.36 per share, with a total value of $447,055.84. Company insiders own 0.60% of the company’s stock.

A number of research firms have recently issued reports on OKE. Raymond James cut their price objective on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays set a $79.00 price target on shares of ONEOK and gave the company a “hold” rating in a research report on Tuesday, October 15th. Tudor Pickering started coverage on shares of ONEOK in a research report on Friday, November 8th. They issued a “buy” rating and a $74.00 price target on the stock. ValuEngine cut shares of ONEOK from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Finally, Goldman Sachs Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and raised their price target for the company from $73.00 to $81.00 in a research report on Sunday, November 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $74.38.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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