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

GAMMA Investing LLC grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,265 shares of the utilities provider’s stock after purchasing an additional 2,573 shares during the quarter. GAMMA Investing LLC’s holdings in ONEOK were worth $1,231,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in ONEOK during the 2nd quarter valued at about $28,000. Matrix Trust Co acquired a new position in shares of ONEOK during the third quarter worth approximately $29,000. Access Investment Management LLC bought a new position in ONEOK in the 3rd quarter worth approximately $37,000. Values First Advisors Inc. acquired a new stake in ONEOK in the 3rd quarter valued at approximately $44,000. Finally, Fortitude Family Office LLC raised its stake in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 135 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Up 1.1 %

NYSE:OKE opened at $102.90 on Friday. The business’s fifty day moving average price is $104.86 and its 200 day moving average price is $93.83. The firm has a market capitalization of $60.11 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 5.24 and a beta of 1.69. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a 1-year low of $67.05 and a 1-year high of $118.07.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company earned $0.99 EPS. On average, sell-side analysts forecast that ONEOK, Inc. will post 5.1 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on OKE shares. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. Truist Financial raised their target price on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Bank of America assumed coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

ONEOK Company 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.