Gamco Investors INC. ET AL lowered its stake in ONEOK, Inc. (NYSE:OKE) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,550 shares of the utilities provider’s stock after selling 8,400 shares during the quarter. Gamco Investors INC. ET AL owned about 0.06% of ONEOK worth $13,806,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Delpha Capital Management LLC acquired a new position in ONEOK in the fourth quarter valued at about $134,000. Tower Research Capital LLC TRC lifted its position in ONEOK by 562.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,735 shares of the utilities provider’s stock valued at $147,000 after buying an additional 2,322 shares during the last quarter. Fieldpoint Private Securities LLC lifted its position in ONEOK by 73.0% in the first quarter. Fieldpoint Private Securities LLC now owns 2,941 shares of the utilities provider’s stock valued at $167,000 after buying an additional 1,241 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in ONEOK in the first quarter valued at about $172,000. Finally, Chicago Equity Partners LLC acquired a new position in ONEOK in the first quarter valued at about $200,000. 74.16% of the stock is currently owned by institutional investors.
Shares of OKE opened at $65.89 on Friday. The stock has a market cap of $27.43 billion, a PE ratio of 37.44, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20. ONEOK, Inc. has a 1 year low of $47.14 and a 1 year high of $67.31. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.49 and a current ratio of 0.63.
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, April 30th were paid a dividend of $0.795 per share. This represents a $3.18 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from ONEOK’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, April 27th. ONEOK’s dividend payout ratio is presently 180.68%.
In related news, VP Sheppard F. Miers III sold 2,200 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $56.70, for a total transaction of $124,740.00. Following the sale, the vice president now directly owns 31,244 shares in the company, valued at $1,771,534.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eduardo A. Rodriguez sold 2,100 shares of the company’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $56.94, for a total transaction of $119,574.00. Following the sale, the director now owns 16,025 shares in the company, valued at $912,463.50. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.
A number of research firms have commented on OKE. ValuEngine raised shares of ONEOK from a “hold” rating to a “buy” rating in a research report on Thursday, May 3rd. Stifel Nicolaus increased their price target on shares of ONEOK from $61.00 to $62.00 and gave the stock a “hold” rating in a research report on Thursday, May 3rd. Deutsche Bank began coverage on shares of ONEOK in a research report on Thursday, April 19th. They set a “hold” rating and a $62.00 price target on the stock. Barclays reduced their price target on shares of ONEOK from $67.00 to $66.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 17th. Finally, Seaport Global Securities began coverage on shares of ONEOK in a research report on Tuesday, April 17th. They set a “neutral” rating and a $60.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. ONEOK presently has an average rating of “Hold” and a consensus target price of $61.43.
ONEOK, Inc, through its general partner interests in ONEOK Partners, L.P., engages in the gathering, processing, storage, and transportation of natural gas in the United States. The company operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments.
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