GAMMA Investing LLC Has $675,000 Stake in ONEOK, Inc. (NYSE:OKE)

GAMMA Investing LLC boosted its position in ONEOK, Inc. (NYSE:OKE) by 51.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,276 shares of the utilities provider’s stock after buying an additional 2,826 shares during the quarter. GAMMA Investing LLC’s holdings in ONEOK were worth $675,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OKE. Rise Advisors LLC acquired a new stake in ONEOK during the first quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of ONEOK in the first quarter valued at $26,000. HHM Wealth Advisors LLC bought a new stake in shares of ONEOK during the fourth quarter worth $32,000. American National Bank acquired a new position in shares of ONEOK during the first quarter valued at $32,000. Finally, Security National Bank bought a new position in ONEOK in the fourth quarter valued at about $35,000. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of NYSE OKE traded down $1.69 during trading on Monday, reaching $78.48. 2,256,450 shares of the company traded hands, compared to its average volume of 2,748,021. ONEOK, Inc. has a 12-month low of $60.58 and a 12-month high of $86.20. The stock has a market cap of $45.80 billion, a P/E ratio of 18.07, a PEG ratio of 4.37 and a beta of 1.65. The firm’s fifty day simple moving average is $81.43 and its 200 day simple moving average is $78.12. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24.

ONEOK Announces Dividend

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

Wall Street Analysts Forecast Growth

OKE has been the subject of several recent research reports. Wells Fargo & Company upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley raised 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. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Mizuho increased their price target on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Truist Financial raised their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, ONEOK currently has an average rating of “Hold” and a consensus target price of $85.00.

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.