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

Fifth Third Wealth Advisors LLC trimmed its position in ONEOK, Inc. (NYSE:OKE) by 57.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,883 shares of the utilities provider’s stock after selling 9,298 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in ONEOK were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC increased its holdings in ONEOK by 4.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 8,292 shares of the utilities provider’s stock worth $832,000 after buying an additional 389 shares during the period. Quantum Financial Advisors LLC purchased a new position in shares of ONEOK during the fourth quarter worth $215,000. Marcum Wealth LLC lifted its position in ONEOK by 2.0% during the fourth quarter. Marcum Wealth LLC now owns 10,142 shares of the utilities provider’s stock valued at $1,018,000 after purchasing an additional 195 shares during the period. FNY Investment Advisers LLC grew its position in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in shares of ONEOK by 10.3% during the 4th quarter. AdvisorNet Financial Inc now owns 29,757 shares of the utilities provider’s stock valued at $2,988,000 after buying an additional 2,784 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE OKE opened at $108.59 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $106.04 and its 200-day simple moving average is $95.36. The company has a market cap 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, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07.

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

Wall Street Analysts Forecast Growth

OKE has been the topic of several analyst reports. Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.54.

About ONEOK

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.