Smith Moore Lowers stake in ONEOK (OKE)

ONEOK (OKE) : Smith Moore reduced its stake in ONEOK by 32.55% during the most recent quarter end. The investment management company now holds a total of 17,990 shares of ONEOK which is valued at $842,832 after selling 8,680 shares in ONEOK , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.ONEOK makes up approximately 0.34% of Smith Moore’s portfolio.

Other Hedge Funds, Including , Texas Permanent School Fund reduced its stake in OKE by selling 4,221 shares or 5.83% in the most recent quarter. The Hedge Fund company now holds 68,167 shares of OKE which is valued at $3,193,624. ONEOK makes up approx 0.04% of Texas Permanent School Fund’s portfolio.Nelson Van Denburg Campbell Wealth Management Group boosted its stake in OKE in the latest quarter, The investment management firm added 202 additional shares and now holds a total of 17,129 shares of ONEOK which is valued at $769,263. ONEOK makes up approx 0.32% of Nelson Van Denburg Campbell Wealth Management Group’s portfolio. Diversified Trust Co sold out all of its stake in OKE during the most recent quarter. The investment firm sold 16,587 shares of OKE which is valued $729,165.

ONEOK opened for trading at $49.44 and hit $49.86 on the upside on Friday, eventually ending the session at $49.71, with a gain of 0.18% or 0.09 points. The heightened volatility saw the trading volume jump to 22,82,042 shares. Company has a market cap of $10,460 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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