Legacy Advisors LLC Has $623,000 Stake in ONEOK, Inc. (NYSE:OKE)

Legacy Advisors LLC raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 157.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,277 shares of the utilities provider's stock after buying an additional 3,836 shares during the period. Legacy Advisors LLC's holdings in ONEOK were worth $623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC bought a new stake in ONEOK during the fourth quarter worth about $931,000. Brighton Jones LLC raised its stake in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after purchasing an additional 8,834 shares in the last quarter. Sigma Planning Corp raised its stake in shares of ONEOK by 1.6% during the 4th quarter. Sigma Planning Corp now owns 13,308 shares of the utilities provider's stock worth $1,336,000 after purchasing an additional 213 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in shares of ONEOK by 3.5% in the 4th quarter. Howard Capital Management Inc. now owns 5,671 shares of the utilities provider's stock valued at $569,000 after buying an additional 194 shares during the last quarter. Finally, MONECO Advisors LLC grew its stake in shares of ONEOK by 4.4% in the fourth quarter. MONECO Advisors LLC now owns 5,919 shares of the utilities provider's stock valued at $594,000 after buying an additional 251 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

ONEOK Stock Performance

OKE opened at $80.58 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The business has a fifty day simple moving average of $82.86 and a 200 day simple moving average of $92.71. ONEOK, Inc. has a 1 year low of $75.48 and a 1 year high of $118.07. The company has a market capitalization of $50.73 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94.

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

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a $1.03 dividend. The ex-dividend date was Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.11%. ONEOK's payout ratio is 80.47%.

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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