Fifth Third Wealth Advisors LLC Reduces Stake in ONEOK, Inc. (NYSE:OKE)

Fifth Third Wealth Advisors LLC lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 57.5% during the 4th quarter, Holdings Channel reports. The fund owned 6,883 shares of the utilities provider’s stock after selling 9,298 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in ONEOK were worth $691,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OKE. HM Payson & Co. increased its stake in ONEOK by 6.3% during the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 105 shares during the last quarter. Claro Advisors LLC increased its position in shares of ONEOK by 1.6% during the 3rd quarter. Claro Advisors LLC now owns 7,132 shares of the utilities provider’s stock worth $650,000 after purchasing an additional 115 shares during the last quarter. Haverford Trust Co raised its holdings in ONEOK by 1.2% in the 3rd quarter. Haverford Trust Co now owns 10,067 shares of the utilities provider’s stock valued at $917,000 after buying an additional 117 shares during the period. Brighton Jones LLC lifted its position in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after buying an additional 122 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. boosted its stake in ONEOK by 1.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Trading Up 1.6 %

NYSE OKE opened at $108.59 on Friday. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The firm has a 50 day moving average of $106.04 and a two-hundred day moving average of $95.36. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $63.43 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target for the company. in a research report on Wednesday, December 18th. Barclays boosted their price objective on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Truist Financial boosted their price target on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $101.54.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.