Versor Investments LP Increases Position in ONEOK, Inc. $OKE

Versor Investments LP lifted its stake in ONEOK, Inc. (NYSE:OKE) by 120.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,092 shares of the utilities provider’s stock after acquiring an additional 9,349 shares during the period. Versor Investments LP’s holdings in ONEOK were worth $1,247,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Winnow Wealth LLC bought a new position in ONEOK in the third quarter worth about $28,000. City Holding Co. bought a new position in shares of ONEOK during the 3rd quarter worth approximately $28,000. Global Wealth Strategies & Associates purchased a new stake in ONEOK during the third quarter valued at approximately $29,000. Financial Consulate Inc. acquired a new stake in ONEOK in the third quarter valued at approximately $29,000. Finally, Access Investment Management LLC acquired a new stake in ONEOK in the second quarter valued at approximately $33,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Trading Up 1.6%

Shares of NYSE:OKE opened at $83.16 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $103.64. The stock has a market cap of $52.33 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 4.65 and a beta of 0.96. The business has a 50-day moving average price of $74.99 and a 200-day moving average price of $73.29.

ONEOK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Monday, February 2nd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $4.28 dividend on an annualized basis and a yield of 5.1%. This is a boost from ONEOK’s previous quarterly dividend of $1.03. ONEOK’s payout ratio is 78.68%.

Analyst Ratings Changes

Several analysts have recently commented on the company. UBS Group decreased their price objective on ONEOK from $114.00 to $103.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Jefferies Financial Group initiated coverage on ONEOK in a research note on Tuesday, January 20th. They issued a “hold” rating and a $80.00 price target for the company. TD Cowen dropped their price target on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Morgan Stanley restated an “overweight” rating and set a $104.00 price objective on shares of ONEOK in a report on Wednesday, January 28th. Finally, Wells Fargo & Company decreased their price objective on shares of ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $85.80.

ONEOK Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.