Gamco Investors INC. ET AL Purchases 700 Shares of ONEOK, Inc. (NYSE:OKE)

Gamco Investors INC. ET AL grew its holdings in ONEOK, Inc. (NYSE:OKE) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 175,950 shares of the utilities provider’s stock after purchasing an additional 700 shares during the quarter. Gamco Investors INC. ET AL’s holdings in ONEOK were worth $14,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of ONEOK in the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in shares of ONEOK during the 1st quarter worth about $26,000. American National Bank bought a new stake in shares of ONEOK in the 1st quarter valued at about $32,000. HHM Wealth Advisors LLC acquired a new stake in shares of ONEOK in the 4th quarter valued at approximately $32,000. Finally, Manchester Capital Management LLC boosted its stake in ONEOK by 66.4% during the 1st quarter. Manchester Capital Management LLC now owns 456 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 182 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on OKE. Morgan Stanley increased their target price on shares of ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. raised their target price on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Mizuho increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus boosted their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company increased their target price on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Hold” and a consensus target price of $84.83.

ONEOK Price Performance

Shares of OKE traded up $0.62 during trading hours on Friday, reaching $82.02. The stock had a trading volume of 1,826,761 shares, compared to its average volume of 2,137,539. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK, Inc. has a 12 month low of $60.58 and a 12 month high of $86.20. The stock has a market capitalization of $47.87 billion, a PE ratio of 19.07, a PEG ratio of 4.31 and a beta of 1.65. The company’s 50-day moving average is $81.39 and its two-hundred day moving average is $77.60.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the prior year, the firm earned $2.34 EPS. Research analysts expect that ONEOK, Inc. will post 5.01 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.83%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

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.