Sprinkle Financial Consultants LLC Boosts Stock Position in ONEOK, Inc. (NYSE:OKE)

Sprinkle Financial Consultants LLC boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 25.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,416 shares of the utilities provider’s stock after buying an additional 18,328 shares during the quarter. ONEOK accounts for approximately 5.9% of Sprinkle Financial Consultants LLC’s investment portfolio, making the stock its 5th largest position. Sprinkle Financial Consultants LLC’s holdings in ONEOK were worth $8,240,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of OKE. Park Avenue Securities LLC boosted its holdings in shares of ONEOK by 13.1% in the first quarter. Park Avenue Securities LLC now owns 7,478 shares of the utilities provider’s stock worth $600,000 after buying an additional 864 shares during the period. Ballentine Partners LLC grew its position in ONEOK by 8.2% during the 1st quarter. Ballentine Partners LLC now owns 4,224 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 319 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in ONEOK during the 1st quarter valued at $3,195,000. Dynamic Advisor Solutions LLC boosted its position in shares of ONEOK by 1.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 19,474 shares of the utilities provider’s stock worth $1,561,000 after buying an additional 350 shares during the period. Finally, Sovereign Financial Group Inc. purchased a new position in shares of ONEOK during the first quarter valued at $218,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OKE shares. Truist Financial raised their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on shares of ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Royal Bank of Canada increased their target price on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price target on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 26th. Finally, Mizuho upped their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Stock Performance

Shares of OKE traded down $0.48 on Wednesday, reaching $96.89. 334,104 shares of the stock traded hands, compared to its average volume of 2,726,143. The firm has a market cap of $56.59 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 4.20 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The stock’s 50-day moving average price is $92.25 and its 200-day moving average price is $84.96. ONEOK, Inc. has a 12 month low of $63.33 and a 12 month high of $98.43.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the firm posted $1.04 EPS. Equities analysts forecast that ONEOK, Inc. will post 5.06 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is 86.27%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by corporate insiders.

About ONEOK

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.