Challenger Wealth Management Takes $838,000 Position in ONEOK, Inc. (NYSE:OKE)

Challenger Wealth Management acquired a new stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,349 shares of the utilities provider's stock, valued at approximately $838,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of ONEOK in the 4th quarter valued at approximately $539,554,000. Wellington Management Group LLP lifted its position in ONEOK by 433.4% in the 4th quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock valued at $422,373,000 after acquiring an additional 3,418,207 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in ONEOK by 240.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after purchasing an additional 1,971,147 shares during the period. Raymond James Financial Inc. bought a new position in ONEOK during the 4th quarter worth about $182,694,000. Finally, ClearBridge Investments Ltd acquired a new stake in shares of ONEOK in the 4th quarter valued at about $177,045,000. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OKE has been the subject of several recent analyst reports. Barclays cut their price objective on ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Stifel Nicolaus lowered their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, 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. 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $104.69.

ONEOK Price Performance

NYSE:OKE traded down $0.65 during trading hours on Friday, hitting $80.03. 1,513,753 shares of the stock traded hands, compared to its average volume of 3,993,578. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a 50 day moving average price of $85.69 and a 200 day moving average price of $96.54. The company has a market cap of $49.99 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.01. ONEOK, Inc. has a 1 year low of $75.47 and a 1 year high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $8.23 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were paid a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.15%. ONEOK's dividend payout ratio is currently 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.