Sheaff Brock Investment Advisors LLC Cuts Stock Position in ONEOK, Inc. (NYSE:OKE)

Sheaff Brock Investment Advisors LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 0.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 101,725 shares of the utilities provider’s stock after selling 828 shares during the quarter. ONEOK makes up 0.9% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 20th largest position. Sheaff Brock Investment Advisors LLC’s holdings in ONEOK were worth $10,093,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. LPL Financial LLC increased its stake in ONEOK by 6.2% in the 1st quarter. LPL Financial LLC now owns 1,367,411 shares of the utilities provider’s stock worth $135,675,000 after buying an additional 80,418 shares in the last quarter. Waddell & Associates LLC purchased a new position in shares of ONEOK during the first quarter valued at about $226,000. Inspire Advisors LLC grew its position in shares of ONEOK by 25.9% during the first quarter. Inspire Advisors LLC now owns 28,564 shares of the utilities provider’s stock valued at $2,834,000 after purchasing an additional 5,883 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of ONEOK by 16.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 295,207 shares of the utilities provider’s stock valued at $29,290,000 after purchasing an additional 42,263 shares in the last quarter. Finally, Empirical Finance LLC grew its position in shares of ONEOK by 4.0% during the first quarter. Empirical Finance LLC now owns 11,380 shares of the utilities provider’s stock valued at $1,129,000 after purchasing an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.5%

Shares of NYSE OKE opened at $81.57 on Monday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The company has a market cap of $51.35 billion, a P/E ratio of 15.93, a PEG ratio of 1.90 and a beta of 0.93. ONEOK, Inc. has a 1 year low of $75.47 and a 1 year high of $118.07. The firm has a 50-day simple moving average of $81.50 and a two-hundred day simple moving average of $89.33.

ONEOK (NYSE:OKE) last announced 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). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the previous year, the business earned $1.09 EPS. Research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a 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 Analyst Weigh In

A number of research analysts have recently weighed in on OKE shares. Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus cut their price objective on ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Scotiabank set a $92.00 price objective on ONEOK and gave the company a “sector outperform” rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Finally, Raymond James Financial cut their price objective on ONEOK from $115.00 to $110.00 and set an “outperform” rating for the company in a research report on Tuesday, July 22nd. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $104.86.

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.