Sunbelt Securities Inc. Buys 3,226 Shares of ONEOK, Inc. (NYSE:OKE)

Sunbelt Securities Inc. grew its stake in shares of ONEOK, Inc. (NYSE:OKE) by 42.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,875 shares of the utilities provider’s stock after buying an additional 3,226 shares during the period. Sunbelt Securities Inc.’s holdings in ONEOK were worth $991,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in ONEOK by 7.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 7,978 shares of the utilities provider’s stock valued at $651,000 after purchasing an additional 537 shares during the period. Diversified Trust Co grew its position in ONEOK by 14.1% during the second quarter. Diversified Trust Co now owns 4,586 shares of the utilities provider’s stock worth $374,000 after buying an additional 567 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in ONEOK by 1.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 199,762 shares of the utilities provider’s stock worth $16,291,000 after acquiring an additional 2,042 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in ONEOK by 30.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 11,248 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 2,647 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of ONEOK by 10.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,240 shares of the utilities provider’s stock valued at $427,000 after acquiring an additional 488 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of OKE stock opened at $104.36 on Thursday. The company has a market capitalization of $60.97 billion, a P/E ratio of 21.83, a PEG ratio of 5.49 and a beta of 1.69. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. 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 stock has a 50 day moving average price of $102.95 and a two-hundred day moving average price of $91.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the prior year, the company earned $0.99 earnings per share. Analysts expect that ONEOK, Inc. will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 3.79%. ONEOK’s dividend payout ratio is presently 82.85%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of ONEOK from $100.00 to $107.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial upped their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.00.

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.