Bridgecreek Investment Management Lowers stake in ONEOK (OKE)

ONEOK (OKE) : Bridgecreek Investment Management reduced its stake in ONEOK by 0.36% during the most recent quarter end. The investment management company now holds a total of 202,050 shares of ONEOK which is valued at $9,466,043 after selling 720 shares in ONEOK , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.ONEOK makes up approximately 2.82% of Bridgecreek Investment Management’s portfolio.

Other Hedge Funds, Including , Riverhead Capital Management sold out all of its stake in OKE during the most recent quarter. The investment firm sold 77,392 shares of OKE which is valued $3,625,815.Teacher Retirement System Of Texas boosted its stake in OKE in the latest quarter, The investment management firm added 3,543 additional shares and now holds a total of 14,940 shares of ONEOK which is valued at $680,965.Assetmark Inc reduced its stake in OKE by selling 8 shares or 1.99% in the most recent quarter. The Hedge Fund company now holds 395 shares of OKE which is valued at $18,213.Ftb Advisors reduced its stake in OKE by selling 479 shares or 77.51% in the most recent quarter. The Hedge Fund company now holds 139 shares of OKE which is valued at $6,226.

ONEOK opened for trading at $46.98 and hit $47.42 on the upside on Monday, eventually ending the session at $47.36, with a gain of 0.81% or 0.38 points. The heightened volatility saw the trading volume jump to 14,12,912 shares. Company has a market cap of $9,966 M.

On the company’s financial health, ONEOK reported $0.40 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.42.Analysts expectations of $ 2112.75.During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on ONEOK. Company shares were Reiterated by RBC Capital Mkts on Aug 16, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 46 from a previous price target of $39 .ONEOK was Downgraded by Jefferies to ” Hold” on Jun 8, 2016.

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 segments: Natural Gas Gathering and Processing Natural Gas Liquids and Natural Gas Pipelines. The Natural Gas Gathering and Processing segment provides nondiscretionary services to producers including gathering and processing of natural gas produced from crude oil and natural gas wells. The Natural Gas Liquids segment owns and operates facilities that gather fractionate treat and distribute natural gas liquids (NGLs) and store NGL products primarily in Oklahoma Kansas Texas New Mexico and the Rocky Mountain region. The Natural Gas Pipelines segment owns and operates regulated natural gas transmission pipelines and natural gas storage facilities.

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