Lipe & Dalton Sells 37,120 Shares of ONEOK, Inc. (NYSE:OKE)

Lipe & Dalton reduced its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 49.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,482 shares of the utilities provider's stock after selling 37,120 shares during the quarter. ONEOK comprises 2.1% of Lipe & Dalton's holdings, making the stock its 14th largest holding. Lipe & Dalton's holdings in ONEOK were worth $3,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. raised its position in ONEOK by 187.9% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 6,483 shares of the utilities provider's stock valued at $643,000 after buying an additional 4,231 shares during the last quarter. Forum Financial Management LP raised its position in ONEOK by 39.1% in the 1st quarter. Forum Financial Management LP now owns 10,152 shares of the utilities provider's stock valued at $1,007,000 after buying an additional 2,855 shares during the last quarter. Summit X LLC raised its position in ONEOK by 95.1% in the 1st quarter. Summit X LLC now owns 4,956 shares of the utilities provider's stock valued at $492,000 after buying an additional 2,416 shares during the last quarter. Bridgewater Advisors Inc. purchased a new stake in ONEOK in the 1st quarter valued at $333,000. Finally, Tectonic Advisors LLC raised its position in ONEOK by 7.5% in the 1st quarter. Tectonic Advisors LLC now owns 112,028 shares of the utilities provider's stock valued at $11,115,000 after buying an additional 7,817 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. upped their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Citigroup reduced their price objective on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Morgan Stanley increased their price target on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus cut their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six equities 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, the company presently has an average rating of "Moderate Buy" and an average target price of $103.07.

ONEOK Price Performance

Shares of NYSE OKE traded up $2.18 during trading hours on Friday, reaching $83.42. 4,553,712 shares of the stock traded hands, compared to its average volume of 3,492,203. The company's 50-day simple moving average is $81.97 and its two-hundred day simple moving average is $90.14. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The company has a market capitalization of $52.52 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 1.94 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $6.49 billion during 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 business posted $1.09 earnings per share. Equities research analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 4.94%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's dividend payout ratio (DPR) is 80.47%.

ONEOK 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.