Commerce Bank Decreases Stake in ONEOK, Inc. (NYSE:OKE)

Commerce Bank lowered its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,278 shares of the utilities provider's stock after selling 6,089 shares during the period. Commerce Bank's holdings in ONEOK were worth $15,088,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Morse Asset Management Inc bought a new position in shares of ONEOK during the 3rd quarter worth $346,000. Barclays PLC increased its position in shares of ONEOK by 16.1% during the third quarter. Barclays PLC now owns 1,888,864 shares of the utilities provider's stock worth $172,131,000 after purchasing an additional 262,486 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of ONEOK in the third quarter worth $2,258,000. Fulcrum Equity Management lifted its stake in ONEOK by 1.1% during the 3rd quarter. Fulcrum Equity Management now owns 46,681 shares of the utilities provider's stock valued at $4,254,000 after acquiring an additional 526 shares during the period. Finally, World Investment Advisors LLC increased its stake in shares of ONEOK by 154.1% in the third quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider's stock worth $959,000 after acquiring an additional 6,381 shares during the period. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Trading Up 2.1 %

Shares of OKE traded up $1.81 during mid-day trading on Thursday, reaching $86.47. The stock had a trading volume of 1,111,632 shares, compared to its average volume of 3,163,100. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm has a market cap of $54.01 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 3.77 and a beta of 1.20. The business's fifty day moving average is $92.51 and its 200 day moving average is $99.10. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OKE. Barclays cut their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Wednesday, February 26th. Citigroup started coverage on shares of ONEOK in a report on Friday, February 28th. They set a "buy" rating and a $110.00 price target on the stock. Finally, Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a "sector outperform" rating for the company in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and an average price target of $106.42.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.