Visionary Asset Management Lowers stake in ONEOK (OKE)

ONEOK (OKE) : Visionary Asset Management reduced its stake in ONEOK by 6.54% during the most recent quarter end. The investment management company now holds a total of 85,077 shares of ONEOK which is valued at $4,058,173 after selling 5,951 shares in ONEOK , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.ONEOK makes up approximately 1.40% of Visionary Asset Management’s portfolio.

Other Hedge Funds, Including , First Manhattan Co boosted its stake in OKE in the latest quarter, The investment management firm added 1,430 additional shares and now holds a total of 5,430 shares of ONEOK which is valued at $259,011.Capstone Asset Management Co reduced its stake in OKE by selling 80 shares or 0.46% in the most recent quarter. The Hedge Fund company now holds 17,224 shares of OKE which is valued at $815,384. ONEOK makes up approx 0.02% of Capstone Asset Management Co’s portfolio. Gofen Glossberg Il added OKE to its portfolio by purchasing 6,090 company shares during the most recent quarter which is valued at $288,301. ONEOK makes up approx 0.01% of Gofen Glossberg Il’s portfolio.Benjamin F. Edwards Company reduced its stake in OKE by selling 1,691 shares or 7.66% in the most recent quarter. The Hedge Fund company now holds 20,374 shares of OKE which is valued at $964,505. ONEOK makes up approx 0.18% of Benjamin F. Edwards Company’s portfolio.

ONEOK closed down -0.42 points or -0.87% at $47.7 with 17,77,778 shares getting traded on Monday. Post opening the session at $47.82, the shares hit an intraday low of $47.33 and an intraday high of $47.9462 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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. ONEOK was Downgraded by Jefferies to ” Hold” on Jun 8, 2016. 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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