FORA Capital LLC Invests $1.73 Million in ONEOK, Inc. (NYSE:OKE)

FORA Capital LLC acquired a new position in shares of ONEOK, Inc. (NYSE:OKE) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 18,925 shares of the utilities provider’s stock, valued at approximately $1,725,000.

A number of other hedge funds have also bought and sold shares of OKE. Quest Partners LLC bought a new stake in ONEOK during the second quarter valued at $28,000. Matrix Trust Co bought a new stake in shares of ONEOK during the 3rd quarter valued at about $29,000. Ridgewood Investments LLC acquired a new stake in ONEOK during the second quarter worth approximately $31,000. Access Investment Management LLC bought a new stake in ONEOK in the third quarter worth approximately $37,000. Finally, Values First Advisors Inc. acquired a new position in ONEOK in the third quarter valued at approximately $44,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.8 %

ONEOK stock opened at $112.59 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $65.77 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 5.56 and a beta of 1.66. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The firm’s 50-day simple moving average is $99.98 and its 200 day simple moving average is $89.62.

ONEOK (NYSE:OKE) last released 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 business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same period in the prior year, the company earned $0.99 earnings per share. Research analysts predict that ONEOK, Inc. will post 5.15 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were paid a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on OKE shares. UBS Group raised their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Truist Financial raised their target price on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley upgraded 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. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Scotiabank lifted their price target on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $100.38.

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.