Pinnacle Holdings Lowers stake in ONEOK (OKE)

ONEOK (OKE) : Pinnacle Holdings reduced its stake in ONEOK by 0.41% during the most recent quarter end. The investment management company now holds a total of 109,589 shares of ONEOK which is valued at $5,239,450 after selling 448 shares in ONEOK , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.ONEOK makes up approximately 2.55% of Pinnacle Holdings’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc boosted its stake in OKE in the latest quarter, The investment management firm added 66,159 additional shares and now holds a total of 1,170,110 shares of ONEOK which is valued at $55,942,959. ONEOK makes up approx 0.07% of Schwab Charles Investment Management Inc’s portfolio. Princeton Alpha Management Lp sold out all of its stake in OKE during the most recent quarter. The investment firm sold 15,645 shares of OKE which is valued $767,387.Teachers Advisors boosted its stake in OKE in the latest quarter, The investment management firm added 8,267 additional shares and now holds a total of 267,838 shares of ONEOK which is valued at $12,877,651. ONEOK makes up approx 0.02% of Teachers Advisors’s portfolio.American Century Companies Inc reduced its stake in OKE by selling 2,800 shares or 14.68% in the most recent quarter. The Hedge Fund company now holds 16,275 shares of OKE which is valued at $758,252.Conning boosted its stake in OKE in the latest quarter, The investment management firm added 270 additional shares and now holds a total of 5,156 shares of ONEOK which is valued at $253,521. ONEOK makes up approx 0.01% of Conning’s portfolio.

ONEOK opened for trading at $50.07 and hit $50.6 on the upside on Monday, eventually ending the session at $50.42, with a gain of 1.18% or 0.59 points. The heightened volatility saw the trading volume jump to 10,99,604 shares. Company has a market cap of $10,615 M.

On the company’s financial health, ONEOK reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $0.42.Analysts expectations of $ 2306.59.During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on ONEOK. ONEOK was Downgraded by Morgan Stanley to ” Equal-Weight” on Oct 4, 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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