Veracity Capital LLC Has $2.53 Million Stake in ONEOK, Inc. (NYSE:OKE)

Veracity Capital LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,764 shares of the utilities provider’s stock after buying an additional 202 shares during the period. ONEOK makes up about 1.0% of Veracity Capital LLC’s investment portfolio, making the stock its 14th biggest position. Veracity Capital LLC’s holdings in ONEOK were worth $2,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Rise Advisors LLC bought a new stake in shares of ONEOK during the 1st quarter valued at $25,000. Quest Partners LLC acquired a new stake in shares of ONEOK during the second quarter worth $28,000. Matrix Trust Co bought a new stake in ONEOK in the third quarter valued at about $29,000. Ridgewood Investments LLC acquired a new position in ONEOK in the second quarter valued at about $31,000. Finally, Manchester Capital Management LLC boosted its holdings in ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after buying an additional 182 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.8 %

Shares of ONEOK stock opened at $97.23 on Friday. The firm has a market cap of $56.79 billion, a PE ratio of 21.18, a P/E/G ratio of 4.82 and a beta of 1.67. The business’s 50 day simple moving average is $91.79 and its 200 day simple moving average is $84.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. ONEOK, Inc. has a 52-week low of $63.33 and a 52-week high of $98.01.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the company earned $1.04 earnings per share. On average, analysts predict that ONEOK, Inc. will post 5.09 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.07%. ONEOK’s payout ratio is presently 86.27%.

Analyst Ratings Changes

A number of brokerages have recently commented on OKE. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday. Mizuho upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Bank of America started coverage on shares of ONEOK in a research report on Thursday. They set a “buy” rating and a $105.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, Truist Financial lifted their target price on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and an average target price of $94.77.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.20% of the company’s stock.

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.