Versor Investments LP Grows Stock Position in ONEOK, Inc. $OKE

Key Points

• Versor Investments LP increased its holdings in ONEOK, Inc. by 50.3%, buying an additional 6,059 shares, bringing their total to 18,100 shares valued at approximately $1.8 million.
• Several other institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc. MD, also increased their stakes in ONEOK during the first quarter, with institutional investors owning 69.13% of the stock.
• ONEOK recently announced a quarterly dividend of $1.03 per share, representing a dividend yield of 5.6%, with a payout ratio of 80.31%.

Versor Investments LP increased its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 50.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,100 shares of the utilities provider's stock after acquiring an additional 6,059 shares during the quarter. Versor Investments LP's holdings in ONEOK were worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Greenline Partners LLC bought a new position in ONEOK in the fourth quarter worth $32,000. First Pacific Financial bought a new position in ONEOK during the 1st quarter valued at about $34,000. Vermillion Wealth Management Inc. purchased a new stake in ONEOK in the fourth quarter worth approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of ONEOK in the fourth quarter worth $39,000. Finally, Financial Network Wealth Advisors LLC lifted its stake in shares of ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider's stock worth $38,000 after purchasing an additional 370 shares during the period. Institutional investors own 69.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on OKE. Citigroup lowered their price target on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus lowered their target price on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. TD Cowen initiated coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 price target on the stock. Finally, Scotiabank set a $92.00 price objective on ONEOK and gave the stock a "sector outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $103.57.

ONEOK Price Performance

Shares of OKE stock traded up $0.3690 on Tuesday, reaching $73.4090. The company's stock had a trading volume of 2,382,585 shares, compared to its average volume of 3,656,463. The stock's fifty day simple moving average is $79.88 and its 200-day simple moving average is $86.20. ONEOK, Inc. has a 1 year low of $72.18 and a 1 year high of $118.07. The company has a market capitalization of $46.23 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $7.20 billion. During the same quarter last year, the business earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Analysts forecast that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Friday, August 1st were given a $1.03 dividend. The ex-dividend date was Friday, August 1st. This represents a $4.12 annualized dividend and a yield of 5.6%. ONEOK's dividend payout ratio (DPR) is currently 80.31%.

About ONEOK

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.