ONEOK, Inc. (NYSE:OKE) Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,401 shares of the utilities provider's stock after purchasing 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.

Several other institutional investors have also modified their holdings of OKE. Kieckhefer Group LLC purchased a new stake in ONEOK in the fourth quarter valued at $30,000. Canton Hathaway LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at about $40,000. J.Safra Asset Management Corp purchased a new position in ONEOK during the 4th quarter worth approximately $48,000. OFI Invest Asset Management acquired a new position in ONEOK during the fourth quarter worth approximately $51,000. Finally, Versant Capital Management Inc lifted its stake in ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider's stock valued at $53,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company's stock.

ONEOK Price Performance

NYSE OKE traded up $1.98 during trading hours on Monday, reaching $98.41. The company's stock had a trading volume of 2,878,920 shares, compared to its average volume of 2,828,335. ONEOK, Inc. has a fifty-two week low of $76.23 and a fifty-two week high of $118.07. The stock has a market cap of $61.44 billion, a PE ratio of 20.59, a PEG ratio of 3.77 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company's 50-day moving average is $99.21 and its two-hundred day moving average is $99.65.

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ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analysts' expectations of $6.18 billion. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. 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 4.19%. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio (DPR) is currently 79.69%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKE. Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a report on Tuesday, December 3rd. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Citigroup initiated coverage on shares of ONEOK in a research note on Friday, February 28th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, 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. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $103.31.

ONEOK 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.