Yukon Wealth Management Inc. Takes Position in ONEOK, Inc. (NYSE:OKE)

Yukon Wealth Management Inc. acquired a new position in ONEOK, Inc. (NYSE:OKE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,519 shares of the utilities provider's stock, valued at approximately $845,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC purchased a new stake in ONEOK in the fourth quarter worth about $931,000. Brighton Jones LLC increased its holdings in ONEOK by 137.1% in the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in ONEOK in the 4th quarter worth approximately $258,000. QRG Capital Management Inc. raised its stake in ONEOK by 19.3% during the 4th quarter. QRG Capital Management Inc. now owns 7,083 shares of the utilities provider's stock worth $711,000 after acquiring an additional 1,147 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in ONEOK by 103.6% during the fourth quarter. Fisher Asset Management LLC now owns 13,926 shares of the utilities provider's stock valued at $1,398,000 after purchasing an additional 7,087 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKE has been the topic of several recent analyst reports. Stifel Nicolaus decreased their price objective on shares of ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Scotiabank lowered their price target on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday, June 5th. Citigroup lowered their target price on shares of ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Barclays dropped their price objective on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a report on Tuesday, June 3rd. Finally, Morgan Stanley lifted 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 investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ONEOK currently has an average rating of "Moderate Buy" and a consensus target price of $104.67.

ONEOK Trading Up 1.3%

OKE traded up $1.03 on Wednesday, hitting $82.02. The company had a trading volume of 3,055,873 shares, compared to its average volume of 3,431,801. ONEOK, Inc. has a 12-month low of $75.48 and a 12-month high of $118.07. 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 business's fifty day simple moving average is $82.50 and its 200 day simple moving average is $91.90. The company has a market cap of $51.63 billion, a PE ratio of 16.02, a PEG ratio of 1.60 and a beta of 0.93.

ONEOK (NYSE:OKE - Get Free Report) last posted 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). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the firm earned $1.09 EPS. Equities research analysts expect that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 annualized dividend and a yield of 5.02%. ONEOK's dividend payout ratio (DPR) 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.