PNC Financial Services Group Inc. Has $13.08 Million Holdings in ONEOK, Inc. (NYSE:OKE)

PNC Financial Services Group Inc. cut its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,312 shares of the utilities provider’s stock after selling 10,936 shares during the period. PNC Financial Services Group Inc.’s holdings in ONEOK were worth $13,083,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Hilltop Holdings Inc. lifted its stake in ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock valued at $1,160,000 after acquiring an additional 1,124 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of ONEOK by 16.2% in the 4th quarter. Fifth Third Bancorp now owns 21,800 shares of the utilities provider’s stock valued at $1,531,000 after purchasing an additional 3,032 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in ONEOK by 26.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock worth $1,725,000 after purchasing an additional 5,167 shares in the last quarter. ELCO Management Co. LLC increased its position in ONEOK by 102.3% during the third quarter. ELCO Management Co. LLC now owns 26,432 shares of the utilities provider’s stock worth $1,677,000 after buying an additional 13,367 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in ONEOK by 31.6% during the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after buying an additional 38,560 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 1.3 %

Shares of OKE opened at $80.06 on Wednesday. The stock’s 50-day moving average price is $79.78 and its 200 day moving average price is $75.16. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24. ONEOK, Inc. has a 12-month low of $57.37 and a 12-month high of $83.31. The firm has a market capitalization of $46.73 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 4.24 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. The firm had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company earned $2.34 earnings per share. As a group, research analysts predict that ONEOK, Inc. will post 4.94 earnings per share for the current year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analysts Set New Price Targets

Several analysts have recently issued reports on OKE shares. Stifel Nicolaus upped their price target on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Barclays increased their price target on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. Wells Fargo & Company upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, UBS Group upped their price target on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.25.

ONEOK Company 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.