Verus Capital Partners LLC Acquires 642 Shares of ONEOK, Inc. (NYSE:OKE)

Verus Capital Partners LLC increased its stake in ONEOK, Inc. (NYSE:OKE) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,667 shares of the utilities provider’s stock after purchasing an additional 642 shares during the quarter. Verus Capital Partners LLC’s holdings in ONEOK were worth $770,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OKE. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter worth about $30,000. Access Investment Management LLC bought a new stake in ONEOK during the 3rd quarter worth approximately $37,000. Canton Hathaway LLC purchased a new position in ONEOK during the fourth quarter valued at approximately $40,000. Versant Capital Management Inc lifted its holdings in ONEOK by 98.1% during the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of ONEOK in the third quarter worth approximately $57,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. US Capital Advisors upgraded shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Truist Financial upped their price objective on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Monday, February 10th. Finally, Scotiabank started coverage on ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.15.

ONEOK Trading Up 3.8 %

Shares of OKE opened at $100.29 on Friday. The stock has a market capitalization of $58.59 billion, a PE ratio of 20.98, a P/E/G ratio of 3.77 and a beta of 1.70. The company’s fifty day moving average is $100.91 and its 200 day moving average is $99.10. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a fifty-two week low of $74.39 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.11%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK’s dividend payout ratio (DPR) is presently 86.19%.

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.