Avantax Advisory Services Inc. Purchases 7,504 Shares of ONEOK, Inc. (NYSE:OKE)

Avantax Advisory Services Inc. lifted its position in ONEOK, Inc. (NYSE:OKE) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,401 shares of the utilities provider’s stock after buying an additional 7,504 shares during the period. Avantax Advisory Services Inc.’s holdings in ONEOK were worth $9,578,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its holdings in ONEOK by 14,279.1% during the 4th quarter. FNY Investment Advisers LLC now owns 22,000 shares of the utilities provider’s stock worth $2,208,000 after purchasing an additional 21,847 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its stake in shares of ONEOK by 57.9% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 14,506 shares of the utilities provider’s stock worth $1,456,000 after buying an additional 5,321 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in shares of ONEOK by 222.3% during the 3rd 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. Mizuho Securities USA LLC boosted its stake in shares of ONEOK by 130.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 103,648 shares of the utilities provider’s stock worth $9,445,000 after buying an additional 58,649 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of ONEOK during the 4th quarter worth about $251,000. Institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on OKE shares. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Citigroup started coverage on shares of ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 price objective for the company. Finally, UBS Group increased their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.31.

ONEOK Trading Up 0.5 %

Shares of NYSE:OKE opened at $93.40 on Friday. ONEOK, Inc. has a 12-month low of $76.23 and a 12-month high of $118.07. The stock has a market cap of $58.31 billion, a PE ratio of 19.54, a P/E/G ratio of 3.77 and a beta of 1.70. The business has a 50 day moving average of $99.34 and a 200-day moving average of $99.43. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

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

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were paid a $1.03 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s payout ratio is 79.69%.

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.