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

GAMMA Investing LLC increased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 9,596.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.19% of ONEOK worth $117,997,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Greenline Partners LLC bought a new stake in ONEOK during the fourth quarter worth $32,000. Vermillion Wealth Management Inc. bought a new stake in ONEOK during the fourth quarter worth $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in ONEOK during the fourth quarter worth $39,000. Canton Hathaway LLC bought a new stake in ONEOK during the fourth quarter worth $40,000. Finally, J.Safra Asset Management Corp bought a new stake in ONEOK during the fourth quarter worth $48,000. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 0.1%

OKE stock opened at $80.62 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $50.36 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The stock has a fifty day moving average of $85.25 and a 200-day moving average of $96.19.

ONEOK (NYSE:OKE) last issued 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 company had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the business earned $1.09 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, May 5th were paid a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a yield of 5.11%. ONEOK’s dividend payout ratio is currently 80.47%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on OKE. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, February 3rd. Barclays reduced their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Scotiabank reduced their price objective on ONEOK from $100.00 to $96.00 and set a “sector outperform” rating for the company in a research note on Tuesday, May 20th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company reduced their price objective on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.69.

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.