PNC Financial Services Group Inc. Grows Stock Holdings in ONEOK, Inc. (NYSE:OKE)

PNC Financial Services Group Inc. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,611 shares of the utilities provider’s stock after buying an additional 2,921 shares during the period. PNC Financial Services Group Inc.’s holdings in ONEOK were worth $17,553,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of ONEOK in the 3rd quarter worth about $9,968,000. Banque Cantonale Vaudoise increased its stake in ONEOK by 8.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 53,951 shares of the utilities provider’s stock valued at $4,916,000 after purchasing an additional 4,408 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in ONEOK by 222.3% in the third quarter. Fifth Third Wealth Advisors LLC now owns 16,181 shares of the utilities provider’s stock worth $1,475,000 after buying an additional 11,160 shares during the last quarter. OneAscent Financial Services LLC bought a new position in shares of ONEOK in the third quarter worth approximately $317,000. Finally, Caprock Group LLC grew its holdings in shares of ONEOK by 267.5% during the third quarter. Caprock Group LLC now owns 35,101 shares of the utilities provider’s stock valued at $3,199,000 after buying an additional 25,549 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Up 3.1 %

OKE stock opened at $116.65 on Friday. The company has a market capitalization of $68.14 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 5.64 and a beta of 1.66. The business has a 50 day simple moving average of $98.36 and a two-hundred day simple moving average of $88.59. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. ONEOK, Inc. has a 1-year low of $65.49 and a 1-year high of $117.24.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share 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 business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm earned $0.99 earnings per share. Research analysts anticipate that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.39%. ONEOK’s dividend payout ratio is presently 82.85%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OKE. Wells Fargo & Company upped their price objective on ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group increased their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America assumed coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $100.38.

Insiders Place Their Bets

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

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.