GAMMA Investing LLC Purchases Shares of 4,896 ONEOK, Inc. (NYSE:OKE)

GAMMA Investing LLC purchased a new stake in ONEOK, Inc. (NYSE:OKE) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 4,896 shares of the utilities provider’s stock, valued at approximately $334,000.

Several other institutional investors also recently bought and sold shares of OKE. Regal Investment Advisors LLC grew its stake in ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock worth $294,000 after purchasing an additional 159 shares in the last quarter. Hoxton Planning & Management LLC raised its holdings in ONEOK by 5.0% during the third quarter. Hoxton Planning & Management LLC now owns 3,594 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 170 shares in the last quarter. Monarch Capital Management Inc. grew its position in ONEOK by 1.2% in the fourth quarter. Monarch Capital Management Inc. now owns 15,573 shares of the utilities provider’s stock worth $1,094,000 after buying an additional 183 shares during the last quarter. Arlington Trust Co LLC grew its position in ONEOK by 27.9% in the fourth quarter. Arlington Trust Co LLC now owns 838 shares of the utilities provider’s stock worth $59,000 after buying an additional 183 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in ONEOK by 0.3% in the third quarter. Wealthfront Advisers LLC now owns 70,574 shares of the utilities provider’s stock worth $4,477,000 after buying an additional 190 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.20% of the company’s stock.

ONEOK Stock Up 0.7 %

OKE stock opened at $80.95 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK, Inc. has a 1 year low of $55.91 and a 1 year high of $81.12. The company has a fifty day simple moving average of $77.39 and a 200 day simple moving average of $71.47. The firm has a market cap of $47.25 billion, a PE ratio of 14.59, a PEG ratio of 4.91 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same period in the prior year, the firm earned $1.08 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 4.99 EPS for the current fiscal year.

ONEOK declared that its board has initiated a stock repurchase program on Wednesday, January 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is 71.35%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OKE. Citigroup lifted their price objective on shares of ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Wolfe Research raised shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Raymond James lifted their target price on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Finally, Seaport Res Ptn raised shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.25.

About ONEOK

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.