Versant Capital Management Inc Purchases 260 Shares of ONEOK, Inc. (NYSE:OKE)

Versant Capital Management Inc boosted its position in ONEOK, Inc. (NYSE:OKE) by 98.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 525 shares of the utilities provider’s stock after buying an additional 260 shares during the quarter. Versant Capital Management Inc’s holdings in ONEOK were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Matrix Trust Co purchased a new stake in ONEOK in the 3rd quarter worth about $29,000. Quest Partners LLC purchased a new position in shares of ONEOK in the second quarter worth about $28,000. Access Investment Management LLC bought a new stake in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. purchased a new stake in shares of ONEOK during the 3rd quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC grew its stake in ONEOK by 37.4% in the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after buying an additional 135 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on OKE. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Truist Financial lifted their target price on ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, November 7th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Price Performance

OKE opened at $102.90 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $60.11 billion, a P/E ratio of 21.53, a PEG ratio of 5.24 and a beta of 1.69. The stock has a 50-day moving average price of $104.99 and a 200-day moving average price of $94.20. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period in the prior year, the company earned $0.99 EPS. Equities analysts predict that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were paid a $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s dividend payout ratio is presently 82.85%.

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.