ONEOK, Inc. (NYSE:OKE) Stock Position Lifted by LaFleur & Godfrey LLC

LaFleur & Godfrey LLC boosted its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 346.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,403 shares of the utilities provider's stock after purchasing an additional 32,132 shares during the period. LaFleur & Godfrey LLC's holdings in ONEOK were worth $4,108,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of OKE. Keudell Morrison Wealth Management boosted its stake in shares of ONEOK by 30.5% during the 1st quarter. Keudell Morrison Wealth Management now owns 4,368 shares of the utilities provider's stock valued at $433,000 after buying an additional 1,021 shares during the last quarter. Legacy Advisors LLC raised its holdings in ONEOK by 157.1% in the first quarter. Legacy Advisors LLC now owns 6,277 shares of the utilities provider's stock valued at $623,000 after acquiring an additional 3,836 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in ONEOK by 10.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 287,465 shares of the utilities provider's stock valued at $28,522,000 after acquiring an additional 27,901 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in ONEOK by 59.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 75,032 shares of the utilities provider's stock worth $7,445,000 after acquiring an additional 28,078 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in ONEOK by 10.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 38,556 shares of the utilities provider's stock worth $3,826,000 after acquiring an additional 3,638 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on OKE. Citigroup cut their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company cut their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Scotiabank reduced their target price on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. Stifel Nicolaus lowered their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley upped their price target on ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $103.69.

ONEOK Stock Performance

NYSE OKE traded down $0.35 during trading hours on Wednesday, hitting $80.21. The company had a trading volume of 3,101,002 shares, compared to its average volume of 3,412,934. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The firm has a market cap of $50.50 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. ONEOK, Inc. has a fifty-two week low of $75.48 and a fifty-two week high of $118.07. The business has a fifty day simple moving average of $82.86 and a 200-day simple moving average of $92.71.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same quarter in the prior year, the company posted $1.09 EPS. Equities analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.14%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

ONEOK Company Profile

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.