Versor Investments LP Invests $1.21 Million in ONEOK, Inc. (NYSE:OKE)

Versor Investments LP acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the fourth quarter, HoldingsChannel reports. The fund acquired 12,041 shares of the utilities provider’s stock, valued at approximately $1,209,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in ONEOK in the 4th quarter valued at $258,000. Oppenheimer Asset Management Inc. increased its holdings in ONEOK by 1.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 34,918 shares of the utilities provider’s stock valued at $3,506,000 after purchasing an additional 557 shares in the last quarter. Kovack Advisors Inc. increased its holdings in ONEOK by 20.1% in the 4th quarter. Kovack Advisors Inc. now owns 8,042 shares of the utilities provider’s stock valued at $807,000 after purchasing an additional 1,347 shares in the last quarter. New York Life Investment Management LLC increased its holdings in ONEOK by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 86,778 shares of the utilities provider’s stock valued at $8,713,000 after purchasing an additional 267 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in ONEOK in the 4th quarter valued at $216,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Stock Performance

Shares of OKE stock opened at $96.62 on Friday. 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 one year low of $73.89 and a one year high of $118.07. The company’s 50-day simple moving average is $100.91 and its 200-day simple moving average is $99.00. The stock has a market capitalization of $56.44 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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. Equities analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

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

Wall Street Analyst Weigh In

OKE has been the subject of several recent research reports. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank assumed coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.54.

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.