Avantax Advisory Services Inc. Has $9.09 Million Stake in ONEOK, Inc. (NYSE:OKE)

Key Points

• Avantax Advisory Services Inc. has reduced its stake in ONEOK, Inc. by 3.9%, now owning approximately $9.09 million worth of shares after selling 3,742 during the quarter.
• ONEOK reported earnings per share (EPS) of $1.04, falling short of the $1.28 consensus estimate, alongside revenue of $6.49 billion, significantly lower than the expected $8.23 billion.
• The company declared a quarterly dividend of $1.03 per share, representing a yield of 5.05% with a payout ratio of 80.47%, set to be paid on August 14th.

Avantax Advisory Services Inc. cut its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,659 shares of the utilities provider's stock after selling 3,742 shares during the quarter. Avantax Advisory Services Inc.'s holdings in ONEOK were worth $9,094,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Greenline Partners LLC bought a new position in ONEOK during the fourth quarter worth $32,000. First Pacific Financial bought a new stake in ONEOK in the first quarter valued at $34,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK during the fourth quarter valued at about $37,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of ONEOK during the fourth quarter valued at about $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of ONEOK during the 1st quarter worth about $39,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Down 0.5%

NYSE OKE opened at $81.57 on Friday. ONEOK, Inc. has a 12 month low of $75.47 and a 12 month high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock's fifty day moving average price is $81.50 and its 200-day moving average price is $89.42. The stock has a market cap of $51.35 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.90 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same period last year, the company posted $1.09 earnings per share. As a group, equities analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is currently 80.47%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OKE shares. Stifel Nicolaus reduced their price objective on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Citigroup cut their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Barclays decreased their price target on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 3rd. TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.86.

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.

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