GAMMA Investing LLC Buys 1,176,986 Shares of ONEOK, Inc. (NYSE:OKE)

GAMMA Investing LLC boosted its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 9,596.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,189,251 shares of the utilities provider's stock after buying an additional 1,176,986 shares during the quarter. GAMMA Investing LLC owned approximately 0.19% of ONEOK worth $117,997,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OKE. Vanguard Group Inc. increased its stake in shares of ONEOK by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 70,120,264 shares of the utilities provider's stock valued at $7,040,075,000 after buying an additional 558,789 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ONEOK by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider's stock valued at $1,848,844,000 after buying an additional 934,007 shares during the period. Geode Capital Management LLC increased its stake in shares of ONEOK by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 14,037,890 shares of the utilities provider's stock valued at $1,405,697,000 after buying an additional 357,015 shares during the period. Northern Trust Corp increased its stake in shares of ONEOK by 15.2% in the fourth quarter. Northern Trust Corp now owns 6,535,861 shares of the utilities provider's stock valued at $656,200,000 after buying an additional 864,392 shares during the period. Finally, Norges Bank acquired a new stake in shares of ONEOK in the fourth quarter valued at about $539,554,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Up 0.7%

Shares of NYSE:OKE traded up $0.58 during midday trading on Thursday, hitting $81.10. 5,370,772 shares of the company's stock were exchanged, compared to its average volume of 3,334,470. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a 50 day moving average price of $83.85 and a 200-day moving average price of $95.59. The company has a market cap of $50.66 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 3.77 and a beta of 0.94. ONEOK, Inc. has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.08%. ONEOK's dividend payout ratio is presently 80.47%.

Analyst Ratings Changes

Several brokerages have recently weighed in on OKE. Stifel Nicolaus decreased their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Citigroup cut their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley upped their target price on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Finally, Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ONEOK currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.69.

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.