ONEOK, Inc. $OKE Stock Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in shares of ONEOK, Inc. (NYSE:OKE) by 25.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,516 shares of the utilities provider’s stock after selling 7,559 shares during the quarter. Fifth Third Bancorp’s holdings in ONEOK were worth $1,643,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in ONEOK during the third quarter worth $28,000. City Holding Co. acquired a new stake in shares of ONEOK during the third quarter worth $28,000. Global Wealth Strategies & Associates bought a new position in shares of ONEOK in the 3rd quarter worth about $29,000. Financial Consulate Inc. acquired a new position in shares of ONEOK in the 3rd quarter valued at about $29,000. Finally, Access Investment Management LLC acquired a new position in shares of ONEOK in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on OKE shares. Citigroup cut their target price on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 31st. Stifel Nicolaus set a $94.00 price objective on ONEOK in a research report on Thursday, October 30th. Barclays lowered their price objective on ONEOK from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Thursday, January 15th. Wells Fargo & Company cut their target price on ONEOK from $90.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. lowered shares of ONEOK from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $87.00 to $83.00 in a research report on Tuesday, January 27th. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $85.80.

ONEOK Stock Up 0.1%

ONEOK stock opened at $86.90 on Friday. ONEOK, Inc. has a 52 week low of $64.02 and a 52 week high of $103.64. The stock has a market cap of $54.68 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 4.93 and a beta of 0.96. The company’s 50-day moving average price is $76.72 and its two-hundred day moving average price is $73.62. The company has a current ratio of 0.90, a quick ratio of 0.75 and a debt-to-equity ratio of 1.44.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were given a dividend of $1.07 per share. This is a boost from ONEOK’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, February 2nd. This represents a $4.28 annualized dividend and a dividend yield of 4.9%. ONEOK’s payout ratio is 78.68%.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.