PNC Financial Services Group Inc. Sells 12,441 Shares of ONEOK, Inc. (NYSE:OKE)

PNC Financial Services Group Inc. reduced its position in ONEOK, Inc. (NYSE:OKE) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 180,170 shares of the utilities provider’s stock after selling 12,441 shares during the period. PNC Financial Services Group Inc.’s holdings in ONEOK were worth $18,089,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter valued at $30,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the 3rd quarter worth about $37,000. Canton Hathaway LLC bought a new position in ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp acquired a new position in ONEOK during the 4th quarter valued at about $48,000. Finally, Versant Capital Management Inc increased its holdings in ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Citigroup initiated coverage on shares of ONEOK in a report on Friday, February 28th. They set a “buy” rating and a $110.00 price objective on the stock. Barclays lowered their target price on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a report on Friday. Wells Fargo & Company cut their price target on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. Finally, Scotiabank decreased their price objective on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.31.

ONEOK Price Performance

Shares of NYSE OKE opened at $91.46 on Tuesday. The firm has a market cap of $57.10 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The stock has a fifty day simple moving average of $99.81 and a two-hundred day simple moving average of $99.49. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $76.23 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is presently 79.69%.

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.