Sprinkle Financial Consultants LLC Buys 26,914 Shares of ONEOK, Inc. (NYSE:OKE)

Sprinkle Financial Consultants LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 29.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 117,330 shares of the utilities provider’s stock after acquiring an additional 26,914 shares during the quarter. ONEOK makes up 7.4% of Sprinkle Financial Consultants LLC’s holdings, making the stock its 2nd largest holding. Sprinkle Financial Consultants LLC’s holdings in ONEOK were worth $11,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Greenline Partners LLC acquired a new position in shares of ONEOK in the 4th quarter worth $32,000. Vermillion Wealth Management Inc. acquired a new position in shares of ONEOK in the 4th quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of ONEOK during the fourth quarter valued at $39,000. Canton Hathaway LLC purchased a new position in shares of ONEOK during the fourth quarter valued at $40,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of ONEOK during the fourth quarter valued at $48,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OKE has been the topic of a number of research analyst reports. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Scotiabank lowered their price target on ONEOK from $96.00 to $93.00 and set a “sector outperform” rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus lowered their price target on ONEOK from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company lowered their price target on ONEOK from $102.00 to $93.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. Finally, Barclays lowered their price target on ONEOK from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 3rd. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.69.

ONEOK Price Performance

OKE opened at $83.74 on Monday. The stock has a market cap of $52.72 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a fifty day moving average price of $83.07 and a 200 day moving average price of $94.02.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the business posted $1.09 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.92%. ONEOK’s dividend payout ratio is currently 80.47%.

ONEOK 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.