Trade Report: Today, Conning Inc. Acquires New Stake in Oneok Inc. (OKE)

Today, Conning Inc. Acquires New Stake in Oneok Inc. (OKE)

Conning Inc. purchased a new stake in Oneok Inc. (NYSE:OKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,886 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Oneok during the fourth quarter valued at about $35,309,000. Aperio Group LLC boosted its stake in shares of Oneok by 33.9% in the first quarter. Aperio Group LLC now owns 127,243 shares of the company’s stock valued at $3,799,000 after buying an additional 32,197 shares in the last quarter. Virginia Retirement System purchased a new stake in shares of Oneok during the first quarter valued at $678,000. IFP Advisors Inc boosted its stake in shares of Oneok by 59.2% in the first quarter. IFP Advisors Inc now owns 7,036 shares of the company’s stock valued at $210,000 after buying an additional 2,617 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Oneok by 13.7% in the first quarter. TIAA CREF Investment Management LLC now owns 863,472 shares of the company’s stock valued at $25,783,000 after buying an additional 103,808 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Shares of Oneok Inc. (NYSE:OKE) traded up 0.18% during trading on Thursday, hitting $49.67. The company had a trading volume of 1,421,471 shares. Oneok Inc. has a 12-month low of $18.84 and a 12-month high of $51.72. The stock has a 50-day moving average of $48.61 and a 200 day moving average of $42.86. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 37.77 and a beta of 1.10.

Oneok (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, missing the Zacks’ 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 last year, the business earned $0.36 EPS. On average, analysts predict that Oneok Inc. will post $1.72 EPS for the current fiscal year.

OKE has been the subject of several recent research reports. Jefferies Group cut Oneok from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $34.00 to $42.00 in a report on Wednesday, June 8th. Argus cut Oneok from a “buy” rating to a “hold” rating in a report on Friday, June 17th. Citigroup Inc. boosted their price objective on Oneok from $35.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, June 17th. Zacks Investment Research raised Oneok from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Tuesday, July 26th. Finally, Royal Bank Of Canada boosted their price objective on Oneok from $39.00 to $46.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. Oneok currently has a consensus rating of “Hold” and an average price target of $38.93.

About Oneok

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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