Inspire Advisors LLC Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Inspire Advisors LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,109 shares of the utilities provider’s stock, valued at approximately $2,211,000.

A number of other hedge funds have also recently modified their holdings of the business. Rise Advisors LLC bought a new stake in ONEOK during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. bought a new position in ONEOK in the first quarter worth approximately $26,000. Quest Partners LLC purchased a new position in ONEOK during the 2nd quarter worth $28,000. Ridgewood Investments LLC purchased a new position in ONEOK during the 2nd quarter worth $31,000. Finally, American National Bank purchased a new stake in shares of ONEOK in the 1st quarter worth $32,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.0 %

Shares of NYSE OKE opened at $91.37 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The company has a 50-day moving average of $86.12 and a 200 day moving average of $81.77. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $93.00. The stock has a market cap of $53.37 billion, a PE ratio of 21.25, a P/E/G ratio of 4.47 and a beta of 1.67.

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, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the business earned $1.04 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a $0.99 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.33%. ONEOK’s dividend payout ratio is currently 92.09%.

Analyst Ratings Changes

A number of brokerages have commented on OKE. Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Citigroup upped their target price on ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Mizuho raised their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.92.

Insider Buying and Selling at ONEOK

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 value of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.

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.