Veracity Capital LLC Sells 4,923 Shares of ONEOK, Inc. (NYSE:OKE)

Veracity Capital LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 14.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,767 shares of the utilities provider’s stock after selling 4,923 shares during the quarter. ONEOK comprises 0.9% of Veracity Capital LLC’s holdings, making the stock its 18th largest holding. Veracity Capital LLC’s holdings in ONEOK were worth $2,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in ONEOK by 4.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 144 shares in the last quarter. Presima Securities ULC lifted its holdings in shares of ONEOK by 1.7% during the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 150 shares during the period. FourThought Financial Partners LLC lifted its holdings in shares of ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 161 shares during the period. Cooper Financial Group lifted its holdings in shares of ONEOK by 1.8% during the first quarter. Cooper Financial Group now owns 10,257 shares of the utilities provider’s stock worth $822,000 after purchasing an additional 182 shares during the period. Finally, Monarch Capital Management Inc. lifted its holdings in shares of ONEOK by 1.2% during the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after purchasing an additional 183 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Price Performance

Shares of ONEOK stock traded up $0.47 on Thursday, reaching $82.80. The company’s stock had a trading volume of 1,564,905 shares, compared to its average volume of 2,518,106. The company has a market capitalization of $48.33 billion, a P/E ratio of 19.26, a PEG ratio of 4.41 and a beta of 1.65. ONEOK, Inc. has a 52-week low of $60.52 and a 52-week high of $83.31. The stock has a 50-day moving average price of $80.26 and a 200-day moving average price of $76.12. The company has a quick ratio of 0.48, a current ratio of 0.70 and a debt-to-equity ratio of 1.24.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the business earned $2.34 earnings per share. Analysts expect that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were given a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OKE. Truist Financial lifted their target price on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. Stifel Nicolaus lifted their target price on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Wells Fargo & Company lifted their price target on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has a consensus rating of “Hold” and a consensus price target of $84.50.

ONEOK Company 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.