Bridgecreek Investment Management buys $8.3 Million stake in ONEOK (OKE)

ONEOK (OKE) : Bridgecreek Investment Management scooped up 17,665 additional shares in ONEOK during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 202,770 shares of ONEOK which is valued at $8.3 Million.ONEOK makes up approximately 2.67% of Bridgecreek Investment Management’s portfolio.

Other Hedge Funds, Including , Nomura Asset Management Co Ltd boosted its stake in OKE in the latest quarter, The investment management firm added 1,630 additional shares and now holds a total of 29,114 shares of ONEOK which is valued at $1.2 Million. ONEOK makes up approx 0.02% of Nomura Asset Management Co Ltd’s portfolio.Blackrock Fund Advisors boosted its stake in OKE in the latest quarter, The investment management firm added 3,062,297 additional shares and now holds a total of 10,927,979 shares of ONEOK which is valued at $448.5 Million. ONEOK makes up approx 0.10% of Blackrock Fund Advisors’s portfolio. Wetherby Asset Management Inc added OKE to its portfolio by purchasing 6,771 company shares during the most recent quarter which is valued at $277,882. ONEOK makes up approx 0.07% of Wetherby Asset Management Inc’s portfolio. Capital Fund Management S.a. sold out all of its stake in OKE during the most recent quarter. The investment firm sold 126,350 shares of OKE which is valued $5 Million.

ONEOK opened for trading at $42 and hit $43.42 on the upside on Wednesday, eventually ending the session at $43.07, with a gain of 3.29% or 1.37 points. The heightened volatility saw the trading volume jump to 24,36,042 shares. Company has a market cap of $9,049 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 May 3, 2016. Analyst had a consensus of $0.42.Analysts expectations of $ 2117.86.During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on ONEOK. Company shares were Upgraded by Barclays on May 9, 2016 to ” Overweight”, Firm has raised the Price Target to $ 49 from a previous price target of $27 .

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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