Gabelli Funds LLC Lowers Position in ONEOK, Inc. (NYSE:OKE)

Gabelli Funds LLC cut its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 836,100 shares of the utilities provider's stock after selling 4,800 shares during the period. ONEOK comprises approximately 0.6% of Gabelli Funds LLC's investment portfolio, making the stock its 29th biggest position. Gabelli Funds LLC owned approximately 0.14% of ONEOK worth $83,944,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Astoria Portfolio Advisors LLC. increased its stake in shares of ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider's stock valued at $260,000 after buying an additional 96 shares during the period. McAdam LLC lifted its stake in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider's stock valued at $262,000 after buying an additional 96 shares during the period. Alliance Wealth Advisors LLC grew its position in shares of ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider's stock worth $1,262,000 after buying an additional 100 shares during the period. Mutual Advisors LLC boosted its stake in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider's stock worth $965,000 after acquiring an additional 103 shares in the last quarter. Finally, Morton Capital Management LLC CA grew its stake in shares of ONEOK by 1.4% in the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider's stock valued at $734,000 after buying an additional 104 shares during the period. Institutional investors and hedge funds own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of OKE stock traded up $1.39 during trading hours on Friday, hitting $86.19. 2,756,451 shares of the company were exchanged, compared to its average volume of 3,159,918. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The firm has a fifty day simple moving average of $93.39 and a 200 day simple moving average of $99.33. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The stock has a market capitalization of $53.84 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 3.77 and a beta of 1.20.

ONEOK (NYSE:OKE - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.11. The company had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. Research analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were issued a $1.03 dividend. The ex-dividend date was Monday, February 3rd. This is an increase from ONEOK's previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a yield of 4.78%. ONEOK's dividend payout ratio (DPR) is 79.69%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank cut their target price on ONEOK from $109.00 to $102.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, February 3rd. Finally, Barclays lowered their price target on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and an average target price of $106.42.

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.