Veracity Capital LLC Has $2.53 Million Holdings in ONEOK, Inc. (NYSE:OKE)

Veracity Capital LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,764 shares of the utilities provider’s stock after purchasing an additional 202 shares during the period. ONEOK comprises 1.0% of Veracity Capital LLC’s portfolio, making the stock its 14th largest holding. Veracity Capital LLC’s holdings in ONEOK were worth $2,530,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in ONEOK during the first quarter valued at $25,000. Quest Partners LLC acquired a new stake in shares of ONEOK during the 2nd quarter valued at about $28,000. Matrix Trust Co bought a new stake in shares of ONEOK in the 3rd quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new position in ONEOK in the second quarter worth approximately $31,000. Finally, Manchester Capital Management LLC raised its position in ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 182 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. upped their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Barclays increased their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Scotiabank boosted their price target on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.77.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

ONEOK Trading Up 0.8 %

Shares of OKE stock opened at $97.23 on Friday. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $98.01. The firm has a market capitalization of $56.79 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 4.82 and a beta of 1.67. The firm’s fifty day simple moving average is $91.79 and its 200 day simple moving average is $84.68. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period last year, the firm posted $1.04 EPS. As a group, sell-side analysts predict that ONEOK, Inc. will post 5.09 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is presently 86.27%.

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.