VSM Wealth Advisory LLC Invests $50,000 in ONEOK, Inc. (NYSE:OKE)

VSM Wealth Advisory LLC bought a new stake in shares of ONEOK, Inc. (NYSE:OKE) in the 4th quarter, Holdings Channel.com reports. The firm bought 500 shares of the utilities provider’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds have also bought and sold shares of OKE. Kieckhefer Group LLC purchased a new stake in shares of ONEOK during the fourth quarter valued at approximately $30,000. Canton Hathaway LLC purchased a new stake in ONEOK during the 4th quarter valued at $40,000. J.Safra Asset Management Corp bought a new stake in ONEOK in the 4th quarter worth $48,000. OFI Invest Asset Management purchased a new position in shares of ONEOK in the fourth quarter valued at about $51,000. Finally, Versant Capital Management Inc raised its stake in shares of 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 acquiring an additional 260 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Price Performance

OKE stock opened at $100.12 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The firm has a market capitalization of $62.51 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 3.77 and a beta of 1.70. The firm has a 50 day moving average price of $99.03 and a 200-day moving average price of $99.75. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 4.11%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date of this dividend was Monday, February 3rd. ONEOK’s dividend payout ratio is 79.69%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on OKE shares. Scotiabank reduced their price target on ONEOK from $109.00 to $102.00 and set a “sector outperform” rating on the stock in a report on Thursday, March 6th. Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price on the stock. US Capital Advisors raised ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Finally, Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $103.31.

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.