108,906 Shares in ONEOK, Inc. (NYSE:OKE) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in ONEOK, Inc. (NYSE:OKE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 108,906 shares of the utilities provider’s stock, valued at approximately $8,828,000.

Other institutional investors have also bought and sold shares of the company. Rise Advisors LLC purchased a new stake in shares of ONEOK in the first quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new position in ONEOK during the first quarter worth $26,000. Quest Partners LLC purchased a new stake in ONEOK in the 2nd quarter valued at $28,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the 2nd quarter worth $31,000. Finally, American National Bank purchased a new position in shares of ONEOK during the 1st quarter worth $32,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $94.71 on Friday. The stock has a market capitalization of $55.28 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 4.46 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 business has a 50-day moving average of $88.89 and a 200 day moving average of $83.40. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $96.05.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $1.04 earnings per share. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.09 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Activity 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 stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. 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 report on Thursday, August 22nd. Wells Fargo & Company increased their price target on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Barclays lifted their price target 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. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Finally, Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK presently has an average rating of “Moderate Buy” and a consensus price target of $92.38.

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.