Benedict Financial Advisors Inc. Acquires Shares of 8,215 ONEOK, Inc. (NYSE:OKE)

Key Points

• Benedict Financial Advisors Inc. acquired 8,215 shares of ONEOK, Inc. valued at approximately $815,000 during the first quarter.
• ONEOK reported a quarterly EPS of $1.04, missing projections and showing a net margin of 12.15% along with a revenue decrease compared to last year.
• The company declared a quarterly dividend of $1.03, representing an annualized dividend yield of 5.02% with a payout ratio of 80.47%.

Benedict Financial Advisors Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,215 shares of the utilities provider's stock, valued at approximately $815,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Greenline Partners LLC purchased a new position in shares of ONEOK during the fourth quarter worth approximately $32,000. First Pacific Financial bought a new position in shares of ONEOK during the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK during the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK during the fourth quarter valued at approximately $39,000. Finally, MorganRosel Wealth Management LLC bought a new position in shares of ONEOK during the first quarter valued at approximately $39,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $1.10 on Tuesday, hitting $82.91. 1,369,676 shares of the company were exchanged, compared to its average volume of 3,952,819. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The stock's 50 day moving average price is $81.44 and its 200 day moving average price is $89.19. 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 firm has a market capitalization of $52.19 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last issued its earnings results 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 return on equity of 15.58% and a net margin of 12.15%. The business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $8.23 billion. During the same period last year, the business earned $1.09 EPS. Sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Friday, August 1st will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 4.97%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

Wall Street Analyst Weigh In

OKE has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Wells Fargo & Company dropped their price objective on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. TD Cowen initiated coverage on shares of ONEOK in a research note on Monday, July 7th. They set a "hold" rating and a $91.00 price objective on the stock. Finally, Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.