J2 Capital Management Inc Invests $489,000 in ONEOK, Inc. (NYSE:OKE)

J2 Capital Management Inc purchased a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,868 shares of the utilities provider’s stock, valued at approximately $489,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKE. International Assets Investment Management LLC boosted its position in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of ONEOK in the 3rd quarter worth about $47,957,000. Yaupon Capital Management LP bought a new position in ONEOK in the 3rd quarter worth about $45,194,000. Finally, National Bank of Canada FI increased its stake in ONEOK by 199.9% during the 3rd quarter. National Bank of Canada FI now owns 697,985 shares of the utilities provider’s stock valued at $63,605,000 after purchasing an additional 465,243 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

ONEOK stock opened at $109.08 on Friday. ONEOK, Inc. has a 52-week low of $67.05 and a 52-week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The firm’s fifty day moving average is $106.17 and its 200 day moving average is $95.65. The company has a market cap of $63.72 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

About ONEOK

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.