Chickasaw Capital Management LLC Has $200.03 Million Position in ONEOK, Inc. (NYSE:OKE)

Chickasaw Capital Management LLC grew its holdings in ONEOK, Inc. (NYSE:OKE) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,992,336 shares of the utilities provider’s stock after purchasing an additional 263,545 shares during the period. ONEOK makes up about 8.1% of Chickasaw Capital Management LLC’s holdings, making the stock its 5th biggest position. Chickasaw Capital Management LLC owned about 0.34% of ONEOK worth $200,031,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OKE. Quest Partners LLC purchased a new position in shares of ONEOK during the 2nd quarter valued at about $28,000. Matrix Trust Co purchased a new stake in ONEOK during the third quarter valued at about $29,000. Access Investment Management LLC purchased a new position in shares of ONEOK in the third quarter worth about $37,000. Values First Advisors Inc. purchased a new stake in ONEOK during the 3rd quarter valued at about $44,000. Finally, Fortitude Family Office LLC grew its position in ONEOK by 37.4% during the 3rd quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of OKE remained flat at $101.62 during trading hours on Tuesday. 1,300,316 shares of the company were exchanged, compared to its average volume of 2,291,650. ONEOK, Inc. has a 52 week low of $67.05 and a 52 week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $59.36 billion, a P/E ratio of 21.26, a P/E/G ratio of 5.24 and a beta of 1.70. The company’s 50-day simple moving average is $105.10 and its 200-day simple moving average is $94.34.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the business posted $0.99 EPS. On average, research analysts forecast that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.90%. ONEOK’s dividend payout ratio is 82.85%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OKE shares. Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Finally, Barclays boosted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

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.