Fifth Third Wealth Advisors LLC Buys 11,160 Shares of ONEOK, Inc. (NYSE:OKE)

Fifth Third Wealth Advisors LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 222.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,181 shares of the utilities provider’s stock after purchasing an additional 11,160 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in ONEOK were worth $1,475,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in OKE. National Pension Service increased its holdings in ONEOK by 1.6% during the 3rd quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock worth $69,608,000 after purchasing an additional 12,349 shares during the period. Leavell Investment Management Inc. raised its holdings in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock valued at $12,871,000 after purchasing an additional 5,175 shares in the last quarter. Caxton Associates LP bought a new position in shares of ONEOK during the second quarter valued at approximately $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK during the second quarter valued at approximately $15,008,000. Finally, Nations Financial Group Inc. IA ADV raised its stake in ONEOK by 11.1% in the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock worth $4,972,000 after buying an additional 5,451 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Up 0.5 %

Shares of OKE stock opened at $113.10 on Wednesday. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $113.23. The firm has a market capitalization of $66.07 billion, a PE ratio of 23.66, a P/E/G ratio of 5.48 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock’s 50-day simple moving average is $97.38 and its 200-day simple moving average is $88.22.

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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 EPS. Equities analysts expect that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.50%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on OKE shares. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Bank of America started coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Scotiabank increased their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. UBS Group lifted their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Wells Fargo & Company increased their target price on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

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.