Neuberger Berman Group LLC Sells 1,218,914 Shares of ONEOK, Inc. (NYSE:OKE)
Neuberger Berman Group LLC trimmed its stake in ONEOK, Inc. (NYSE:OKE) by 21.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,570,132 shares of the utilities provider’s stock after selling 1,218,914 shares during the quarter. Neuberger Berman Group LLC owned 1.03% of ONEOK worth $151,815,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in ONEOK by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 51,850,265 shares of the utilities provider’s stock worth $1,722,467,000 after buying an additional 2,370,633 shares during the last quarter. State Street Corp increased its holdings in ONEOK by 7.2% during the first quarter. State Street Corp now owns 23,288,906 shares of the utilities provider’s stock valued at $507,931,000 after buying an additional 1,554,211 shares during the last quarter. Bank of New York Mellon Corp raised its position in ONEOK by 19.5% in the second quarter. Bank of New York Mellon Corp now owns 8,494,027 shares of the utilities provider’s stock worth $282,171,000 after acquiring an additional 1,386,911 shares during the period. Geode Capital Management LLC grew its position in shares of ONEOK by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 6,488,869 shares of the utilities provider’s stock valued at $141,243,000 after acquiring an additional 83,197 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in ONEOK by 51.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,271,585 shares of the utilities provider’s stock worth $175,123,000 after purchasing an additional 1,792,621 shares during the period. Institutional investors own 66.65% of the company’s stock.
Several analysts have recently commented on the stock. Mizuho decreased their price objective on shares of ONEOK from $40.00 to $34.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 7th. Bank of America cut ONEOK from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a report on Thursday, June 11th. UBS Group increased their price objective on shares of ONEOK from $34.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Citigroup downgraded shares of ONEOK from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $36.00 in a report on Wednesday, June 3rd. Finally, ValuEngine downgraded shares of ONEOK from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $40.80.
ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.19). The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $2.32 billion. ONEOK had a return on equity of 18.28% and a net margin of 7.13%. The firm’s quarterly revenue was down 32.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. On average, equities analysts forecast that ONEOK, Inc. will post 2.39 earnings per share for the current year.
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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