ONEOK, Inc. (NYSE:OKE) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its position in ONEOK, Inc. (NYSE:OKE) by 17.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,692 shares of the utilities provider’s stock after purchasing an additional 1,416 shares during the quarter. GAMMA Investing LLC’s holdings in ONEOK were worth $883,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of ONEOK during the first quarter valued at about $25,000. Quest Partners LLC acquired a new stake in ONEOK in the 2nd quarter valued at approximately $28,000. Ridgewood Investments LLC purchased a new stake in ONEOK in the second quarter valued at approximately $31,000. American National Bank acquired a new position in ONEOK during the first quarter worth $32,000. Finally, Manchester Capital Management LLC boosted its position in shares of ONEOK by 66.4% during the first quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 1.3 %

Shares of ONEOK stock opened at $93.57 on Wednesday. The company has a fifty day simple moving average of $89.41 and a 200-day simple moving average of $83.69. ONEOK, Inc. has a 12-month low of $63.33 and a 12-month high of $96.05. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock has a market cap of $54.61 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 4.62 and a beta of 1.67.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

OKE has been the topic of several research reports. Barclays increased their target price on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Mizuho increased their price target on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Truist Financial lifted their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Citigroup boosted their price target on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.38.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

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.