Verus Capital Partners LLC Purchases 186 Shares of ONEOK, Inc. (NYSE:OKE)

Verus Capital Partners LLC lifted its holdings in ONEOK, Inc. (NYSE:OKE) by 3.2% in the first quarter, HoldingsChannel.com reports. The fund owned 5,915 shares of the utilities provider’s stock after buying an additional 186 shares during the quarter. Verus Capital Partners LLC’s holdings in ONEOK were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in ONEOK in the 1st quarter worth $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK during the 1st quarter valued at approximately $26,000. American National Bank bought a new stake in ONEOK in the 1st quarter worth approximately $32,000. Beacon Capital Management LLC raised its holdings in shares of ONEOK by 90.7% during the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 194 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of ONEOK during the 4th quarter valued at approximately $32,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 0.2 %

NYSE OKE traded up $0.20 on Tuesday, hitting $84.88. The stock had a trading volume of 211,672 shares, compared to its average volume of 2,745,811. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $85.77. The business’s fifty day moving average price is $80.90 and its 200 day moving average price is $76.90. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The stock has a market cap of $49.54 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 4.54 and a beta of 1.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The business had revenue of $4.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company earned $2.34 earnings per share. Equities research analysts anticipate that ONEOK, Inc. will post 4.95 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were paid a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.67%. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OKE shares. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Stifel Nicolaus upped their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Morgan Stanley increased their price target on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Monday, June 10th. Finally, Wells Fargo & Company upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $84.50.

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.