Veracity Capital LLC Acquires 195 Shares of ONEOK, Inc. (NYSE:OKE)

Veracity Capital LLC grew its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 0.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,959 shares of the utilities provider’s stock after purchasing an additional 195 shares during the quarter. ONEOK accounts for approximately 1.0% of Veracity Capital LLC’s investment portfolio, making the stock its 11th biggest holding. Veracity Capital LLC’s holdings in ONEOK were worth $2,807,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Matrix Trust Co acquired a new position in ONEOK during the 3rd quarter worth approximately $29,000. Kieckhefer Group LLC bought a new stake in shares of ONEOK during the fourth quarter valued at approximately $30,000. Access Investment Management LLC bought a new position in shares of ONEOK in the 3rd quarter worth $37,000. Values First Advisors Inc. bought a new position in shares of ONEOK in the 3rd quarter worth $44,000. Finally, Fortitude Family Office LLC grew its position in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Down 1.3 %

ONEOK stock opened at $104.91 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $61.29 billion, a P/E ratio of 21.95, a P/E/G ratio of 4.03 and a beta of 1.70. The firm has a 50 day moving average price of $106.17 and a 200-day moving average price of $96.28. ONEOK, Inc. has a twelve month low of $67.05 and a twelve month high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during 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 previous year, the firm earned $0.99 earnings per share. As a group, equities analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Wall Street Analysts Forecast Growth

OKE has been the topic of a number of recent research reports. Barclays raised their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research note on Wednesday, December 18th. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They set a “buy” rating and a $105.00 price target for the company. Finally, Truist Financial raised their price objective on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.92.

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.