GAMMA Investing LLC Acquires 2,826 Shares of ONEOK, Inc. (NYSE:OKE)

GAMMA Investing LLC raised its holdings in ONEOK, Inc. (NYSE:OKE) by 51.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,276 shares of the utilities provider’s stock after acquiring an additional 2,826 shares during the period. GAMMA Investing LLC’s holdings in ONEOK were worth $675,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in ONEOK during the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in shares of ONEOK during the 1st quarter valued at approximately $26,000. HHM Wealth Advisors LLC purchased a new position in shares of ONEOK during the 4th quarter worth $32,000. American National Bank acquired a new stake in shares of ONEOK during the first quarter valued at about $32,000. Finally, Security National Bank purchased a new stake in shares of ONEOK during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OKE shares. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Truist Financial lifted their target price on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Mizuho lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Morgan Stanley raised their price target on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, ONEOK has a consensus rating of “Hold” and a consensus price target of $85.00.

ONEOK Trading Down 2.1 %

OKE stock traded down $1.69 during midday trading on Monday, hitting $78.48. The stock had a trading volume of 2,256,450 shares, compared to its average volume of 2,748,021. The firm has a market cap of $45.80 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 4.37 and a beta of 1.65. ONEOK, Inc. has a 1-year low of $60.58 and a 1-year high of $86.20. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average price of $81.43 and a two-hundred day moving average price of $78.12.

ONEOK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 5.05%. ONEOK’s payout ratio is 92.09%.

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.