ONEOK, Inc. (NYSE:OKE) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 57.5% during the fourth quarter, according to its most recent Form 13F filing with the 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 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in ONEOK during the 2nd quarter worth about $28,000. Matrix Trust Co purchased a new stake in ONEOK during the third quarter worth approximately $29,000. Kieckhefer Group LLC purchased a new stake in ONEOK during the fourth quarter worth approximately $30,000. Access Investment Management LLC acquired a new position in ONEOK in the third quarter valued at approximately $37,000. Finally, Values First Advisors Inc. purchased a new position in ONEOK in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKE. Wells Fargo & Company cut shares of ONEOK from an "overweight" rating to an "equal weight" rating and set a $107.00 target price for the company. in a report on Wednesday, December 18th. Bank of America began coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a "buy" rating and a $105.00 price objective for the company. US Capital Advisors upgraded ONEOK from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, November 26th. UBS Group upped their target price on ONEOK from $112.00 to $132.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $101.54.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.42 during midday trading on Friday, hitting $109.08. The stock had a trading volume of 3,093,017 shares, compared to its average volume of 2,784,865. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average price of $106.13 and a two-hundred day moving average price of $95.46. The company has a market capitalization of $63.72 billion, a PE ratio of 22.82, a P/E/G ratio of 4.35 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last released 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 quarter in the previous year, the firm posted $0.99 EPS. As a group, equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

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.