Advisors Asset Management Lowers stake in ONEOK (OKE)

ONEOK (OKE) : Advisors Asset Management reduced its stake in ONEOK by 3.89% during the most recent quarter end. The investment management company now holds a total of 808,733 shares of ONEOK which is valued at $37,290,679 after selling 32,694 shares in ONEOK , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.ONEOK makes up approximately 0.59% of Advisors Asset Management’s portfolio.

Other Hedge Funds, Including , Geneva Advisors boosted its stake in OKE in the latest quarter, The investment management firm added 12,146 additional shares and now holds a total of 104,988 shares of ONEOK which is valued at $4,840,997. ONEOK makes up approx 0.09% of Geneva Advisors’s portfolio. Princeton Alpha Management Lp added OKE to its portfolio by purchasing 15,645 company shares during the most recent quarter which is valued at $702,617. ONEOK makes up approx 0.12% of Princeton Alpha Management Lp’s portfolio.Hartford Financial Management reduced its stake in OKE by selling 197 shares or 49.25% in the most recent quarter. The Hedge Fund company now holds 203 shares of OKE which is valued at $9,768. ONEOK makes up approx 0.01% of Hartford Financial Management’s portfolio.

ONEOK closed down -0.08 points or -0.17% at $46.77 with 23,25,927 shares getting traded on Monday. Post opening the session at $47.1, the shares hit an intraday low of $46.73 and an intraday high of $47.59 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 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. 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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