In a recent SEC filing, Apricus Wealth based in South Carolina revealed its purchase of 42,386 shares of ONEOK, valued at approximately $3.3 million. The acquisition took place during the third quarter, bringing Apricus Wealth’s total holdings of ONEOK to 45,086 shares.
The ONEOK stake now represents 1.8% of Apricus Wealth’s fund assets as of September 30. Other top holdings in the firm’s portfolio include NYSE:CVX, NYSE:MRK, NYSE:STT, NYSE:ABBV, and NYSE:C. Despite ONEOK’s shares being down 28% over the past year, the company’s revenue stands at $28 billion with a net income of $3.1 billion.
ONEOK is a prominent midstream energy company offering natural gas gathering, processing, storage, and transportation services across the Mid-Continent and Rocky Mountain regions. With over 50,000 miles of pipelines and numerous storage facilities, ONEOK serves a wide range of clients in the oil and gas industry.
Apricus Wealth’s decision to invest in ONEOK underscores its income-centric strategy amidst market volatility. The move towards high-dividend, cash-generating investments like ONEOK reflects a shift away from growth-oriented financials. Despite challenges in the energy sector, ONEOK’s stable financial performance and attractive dividend yield make it an appealing choice for income-focused investors seeking resilient returns.
