ONEOK, Inc. (NYSE:OKE) Stock Position Lowered by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. reduced its position in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,395 shares of the utilities provider’s stock after selling 545 shares during the period. Avantax Advisory Services Inc.’s holdings in ONEOK were worth $5,996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ieq Capital LLC raised its position in shares of ONEOK by 22.5% during the fourth quarter. Ieq Capital LLC now owns 17,425 shares of the utilities provider’s stock worth $1,224,000 after purchasing an additional 3,204 shares during the period. Principal Financial Group Inc. lifted its stake in ONEOK by 5.2% during the fourth quarter. Principal Financial Group Inc. now owns 696,322 shares of the utilities provider’s stock valued at $48,896,000 after buying an additional 34,162 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of ONEOK by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,214,343 shares of the utilities provider’s stock worth $225,716,000 after buying an additional 30,098 shares during the period. JFS Wealth Advisors LLC raised its holdings in shares of ONEOK by 142.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,445 shares of the utilities provider’s stock valued at $101,000 after acquiring an additional 849 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of ONEOK by 28.2% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 15,347 shares of the utilities provider’s stock valued at $1,078,000 after acquiring an additional 3,373 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.7 %

OKE opened at $80.60 on Tuesday. The firm has a market cap of $47.04 billion, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 4.29 and a beta of 1.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The business has a 50 day moving average price of $78.81 and a 200 day moving average price of $72.45. ONEOK, Inc. has a twelve month low of $55.91 and a twelve month high of $81.81.

ONEOK (NYSE:OKEGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the prior year, the firm earned $2.34 EPS. Research analysts forecast that ONEOK, Inc. will post 4.94 EPS for the current year.

ONEOK declared that its board has initiated a share buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to purchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be paid a dividend of $0.99 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.91%. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Barclays raised their price objective on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their target price on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Stifel Nicolaus raised their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, StockNews.com lowered shares of ONEOK from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.58.

View Our Latest Report on ONEOK

ONEOK Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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