Gabelli Funds LLC Purchases 3,421 Shares of ONEOK, Inc. (NYSE:OKE)

Gabelli Funds LLC increased its position in shares of ONEOK, Inc. (NYSE:OKE) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 831,104 shares of the utilities provider’s stock after purchasing an additional 3,421 shares during the quarter. Gabelli Funds LLC owned approximately 0.14% of ONEOK worth $67,777,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in OKE. Corient Private Wealth LLC raised its stake in shares of ONEOK by 28.8% in the fourth quarter. Corient Private Wealth LLC now owns 158,844 shares of the utilities provider’s stock valued at $11,154,000 after acquiring an additional 35,518 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in ONEOK by 4.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 142,426 shares of the utilities provider’s stock worth $10,001,000 after purchasing an additional 5,867 shares in the last quarter. Avantax Planning Partners Inc. grew its holdings in shares of ONEOK by 40.2% during the fourth quarter. Avantax Planning Partners Inc. now owns 5,297 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 1,520 shares during the last quarter. Congress Wealth Management LLC DE increased its stake in shares of ONEOK by 28.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 16,118 shares of the utilities provider’s stock valued at $1,132,000 after buying an additional 3,581 shares in the last quarter. Finally, Skopos Labs Inc. bought a new position in shares of ONEOK in the fourth quarter valued at about $300,000. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 0.2 %

Shares of NYSE OKE opened at $93.97 on Friday. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $95.28. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The stock has a market cap of $54.89 billion, a P/E ratio of 21.85, a P/E/G ratio of 4.64 and a beta of 1.67. The firm has a 50 day moving average price of $87.24 and a 200 day moving average price of $82.46.

ONEOK (NYSE:OKE) last announced its quarterly earnings results 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. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same quarter in the previous year, the business earned $1.04 EPS. Analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date was Thursday, August 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Analysts Set New Price Targets

OKE has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of ONEOK from $84.00 to $89.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Mizuho upped their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Scotiabank lifted their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Finally, Barclays upped their price target on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, ONEOK presently has an average rating of “Hold” and a consensus price target of $92.38.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.