Gamco Investors INC. ET AL Decreases Stake in ONEOK, Inc. (OKE)

Gamco Investors INC. ET AL decreased its position in ONEOK, Inc. (NYSE:OKE) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 236,450 shares of the utilities provider’s stock after selling 1,200 shares during the period. Gamco Investors INC. ET AL’s holdings in ONEOK were worth $16,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. BerganKDV Wealth Management LLC bought a new stake in shares of ONEOK in the second quarter valued at approximately $117,000. JNBA Financial Advisors boosted its stake in shares of ONEOK by 827.4% in the third quarter. JNBA Financial Advisors now owns 2,031 shares of the utilities provider’s stock valued at $138,000 after buying an additional 1,812 shares during the period. TRUE Private Wealth Advisors bought a new stake in ONEOK during the third quarter worth $140,000. Rehmann Capital Advisory Group lifted its stake in ONEOK by 205.6% during the second quarter. Rehmann Capital Advisory Group now owns 2,442 shares of the utilities provider’s stock worth $171,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Cribstone Capital Management LLC lifted its stake in ONEOK by 40.8% during the second quarter. Cribstone Capital Management LLC now owns 2,535 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 735 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors.

Several research firms have weighed in on OKE. Zacks Investment Research upgraded ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, October 19th. US Capital Advisors restated a “buy” rating on shares of ONEOK in a research note on Tuesday, July 17th. JPMorgan Chase & Co. upped their target price on ONEOK from $65.00 to $74.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Seaport Global Securities upgraded ONEOK from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, October 19th. Finally, Wells Fargo & Co upped their target price on ONEOK from $69.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $70.31.

Shares of OKE opened at $63.97 on Friday. ONEOK, Inc. has a 52 week low of $49.65 and a 52 week high of $71.99. The firm has a market capitalization of $26.20 billion, a PE ratio of 36.35, a PEG ratio of 2.37 and a beta of 0.91. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.74 and a quick ratio of 0.51.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. ONEOK had a return on equity of 16.32% and a net margin of 6.96%. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the prior year, the company earned $0.43 EPS. As a group, analysts expect that ONEOK, Inc. will post 2.83 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Monday, November 5th will be paid a $0.855 dividend. This represents a $3.42 dividend on an annualized basis and a dividend yield of 5.35%. This is a boost from ONEOK’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, November 2nd. ONEOK’s dividend payout ratio is presently 194.32%.

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ONEOK Profile

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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