LaFleur & Godfrey LLC Trims Holdings in ONEOK, Inc. $OKE

Key Points

• LaFleur & Godfrey LLC reduced its stake in ONEOK, Inc. by 13.4%, holding 35,873 shares worth approximately $2.93 million after selling 5,530 shares in the second quarter.
• ONEOK reported earnings of $1.34 per share for the latest quarter, slightly surpassing analysts' expectations, with a revenue of $8.21 billion compared to a forecast of $7.20 billion.
• The company declared a quarterly dividend of $1.03, yielding 5.8% annually, with a dividend payout ratio of 80.31%.

LaFleur & Godfrey LLC trimmed its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 13.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,873 shares of the utilities provider's stock after selling 5,530 shares during the quarter. LaFleur & Godfrey LLC's holdings in ONEOK were worth $2,928,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Merit Financial Group LLC lifted its holdings in shares of ONEOK by 11.4% in the first quarter. Merit Financial Group LLC now owns 11,505 shares of the utilities provider's stock worth $1,142,000 after buying an additional 1,180 shares in the last quarter. Dark Forest Capital Management LP increased its holdings in ONEOK by 409.5% during the 1st quarter. Dark Forest Capital Management LP now owns 40,372 shares of the utilities provider's stock worth $4,006,000 after acquiring an additional 32,448 shares during the period. Capital Investment Advisors LLC increased its holdings in ONEOK by 3.9% during the 1st quarter. Capital Investment Advisors LLC now owns 289,997 shares of the utilities provider's stock worth $28,774,000 after acquiring an additional 10,957 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in ONEOK by 146.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 18,033 shares of the utilities provider's stock worth $1,789,000 after purchasing an additional 10,728 shares in the last quarter. Finally, Advisor Resource Council bought a new position in shares of ONEOK in the first quarter worth $511,000. Institutional investors own 69.13% of the company's stock.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $71.63 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.46 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average price of $76.34 and a 200-day moving average price of $82.40. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.04. ONEOK, Inc. has a 12 month low of $70.63 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.01. ONEOK had a return on equity of 14.90% and a net margin of 11.06%.The company had revenue of $8.21 billion for the quarter, compared to the consensus estimate of $7.20 billion. During the same quarter in the previous year, the business earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. As a group, equities analysts anticipate 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, August 14th. Investors of record on Friday, August 1st were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $4.12 dividend on an annualized basis and a yield of 5.8%. ONEOK's dividend payout ratio (DPR) is presently 80.31%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada dropped their price objective on ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. TD Cowen initiated coverage on ONEOK in a research report on Monday, July 7th. They set a "hold" rating and a $91.00 price target for the company. Mizuho cut their price objective on ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. Barclays set a $83.00 target price on shares of ONEOK in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, ONEOK has an average rating of "Moderate Buy" and a consensus target price of $100.60.

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.

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