ONEOK, Inc. (NYSE:OKE) Shares Acquired by Inspire Investing LLC

Inspire Investing LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,483 shares of the utilities provider’s stock after purchasing an additional 659 shares during the quarter. Inspire Investing LLC’s holdings in ONEOK were worth $610,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Concorde Asset Management LLC acquired a new stake in shares of ONEOK in the second quarter valued at approximately $409,000. WCG Wealth Advisors LLC grew its position in shares of ONEOK by 109.8% in the second quarter. WCG Wealth Advisors LLC now owns 62,698 shares of the utilities provider’s stock valued at $5,113,000 after purchasing an additional 32,809 shares during the last quarter. Waterloo Capital L.P. lifted its stake in shares of ONEOK by 1.6% during the second quarter. Waterloo Capital L.P. now owns 31,989 shares of the utilities provider’s stock valued at $2,609,000 after buying an additional 513 shares during the period. Blair William & Co. IL lifted its stake in shares of ONEOK by 0.6% during the second quarter. Blair William & Co. IL now owns 139,751 shares of the utilities provider’s stock valued at $11,397,000 after buying an additional 797 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of ONEOK by 16.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 43,819 shares of the utilities provider’s stock valued at $3,566,000 after buying an additional 6,192 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OKE shares. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price objective on shares of ONEOK from $84.00 to $89.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Finally, Truist Financial increased their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Hold” and an average price target of $92.38.

ONEOK Price Performance

OKE opened at $93.97 on Friday. The company has a fifty day simple moving average of $87.24 and a 200 day simple moving average of $82.42. The firm has a market cap of $54.89 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 4.64 and a beta of 1.67. ONEOK, Inc. has a twelve month low of $60.58 and a twelve month high of $95.28. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the business earned $1.04 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.21%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

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.