Versor Investments LP Makes New Investment in ONEOK, Inc. (NYSE:OKE)

Versor Investments LP bought a new position in shares of ONEOK, Inc. (NYSE:OKE) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 12,041 shares of the utilities provider’s stock, valued at approximately $1,209,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new position in ONEOK during the 4th quarter worth approximately $30,000. Access Investment Management LLC acquired a new position in ONEOK during the 3rd quarter worth approximately $37,000. Canton Hathaway LLC acquired a new position in ONEOK during the 4th quarter worth approximately $40,000. Versant Capital Management Inc boosted its stake in shares of ONEOK by 98.1% during the 4th quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 260 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of ONEOK during the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OKE. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Scotiabank began coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial boosted their price target on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company decreased their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $103.54.

ONEOK Trading Up 0.9 %

Shares of ONEOK stock opened at $96.62 on Friday. ONEOK, Inc. has a fifty-two week low of $73.89 and a fifty-two week high of $118.07. The firm has a market cap of $56.44 billion, a PE ratio of 20.21, a P/E/G ratio of 3.77 and a beta of 1.70. The business’s fifty day moving average is $100.91 and its two-hundred day moving average is $99.00. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is currently 86.19%.

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.