ONEOK, Inc. (NYSE:OKE) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,859 shares of the utilities provider’s stock after purchasing an additional 200 shares during the period. Wesbanco Bank Inc.’s holdings in ONEOK were worth $816,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC raised its position in shares of ONEOK by 18.3% during the 2nd quarter. Ballentine Partners LLC now owns 25,538 shares of the utilities provider’s stock worth $1,758,000 after purchasing an additional 3,955 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of ONEOK by 0.4% during the 2nd quarter. Retirement Systems of Alabama now owns 192,488 shares of the utilities provider’s stock worth $13,245,000 after purchasing an additional 822 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its stake in ONEOK by 4.3% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 31,948 shares of the utilities provider’s stock worth $2,231,000 after acquiring an additional 1,331 shares during the period. Wetherby Asset Management Inc. grew its stake in ONEOK by 5.0% in the 1st quarter. Wetherby Asset Management Inc. now owns 14,063 shares of the utilities provider’s stock worth $982,000 after acquiring an additional 672 shares during the period. Finally, Amundi Pioneer Asset Management Inc. grew its stake in ONEOK by 17.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 480,799 shares of the utilities provider’s stock worth $33,579,000 after acquiring an additional 73,086 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Shares of NYSE OKE traded up $0.55 during trading on Friday, hitting $74.48. 1,703,091 shares of the company traded hands, compared to its average volume of 1,748,254. ONEOK, Inc. has a 1 year low of $50.26 and a 1 year high of $74.97. The company has a 50-day moving average price of $69.93 and a 200-day moving average price of $68.33. The firm has a market capitalization of $30.53 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.06 and a beta of 1.13. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the company earned $0.68 EPS. The firm’s revenue was down 17.0% on a year-over-year basis. Research analysts predict that ONEOK, Inc. will post 3.12 EPS for the current fiscal year.

OKE has been the subject of several recent analyst reports. UBS Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $69.00 to $75.00 in a research note on Monday, August 12th. Argus lifted their target price on shares of ONEOK to $82.00 and gave the stock an “average” rating in a research note on Tuesday, August 6th. Mitsubishi UFJ Financial Group lifted their target price on shares of ONEOK to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research cut shares of ONEOK from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Credit Suisse Group lifted their target price on shares of ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $72.37.

ONEOK Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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