Chickasaw Capital Management LLC Boosts Position in ONEOK, Inc. (NYSE:OKE)

Chickasaw Capital Management LLC increased its position in shares of ONEOK, Inc. (NYSE:OKEFree Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and 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 8.1% of Chickasaw Capital Management LLC’s portfolio, making the stock its 5th largest holding. Chickasaw Capital Management LLC’s holdings in ONEOK were worth $200,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Pension Service boosted its stake in shares of ONEOK by 1.6% during the third quarter. National Pension Service now owns 763,833 shares of the utilities provider’s stock valued at $69,608,000 after purchasing an additional 12,349 shares in the last quarter. Leavell Investment Management Inc. raised its position in shares of ONEOK by 3.8% in the 3rd quarter. Leavell Investment Management Inc. now owns 141,236 shares of the utilities provider’s stock worth $12,871,000 after acquiring an additional 5,175 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of ONEOK during the 2nd quarter worth $1,225,000. Point72 Europe London LLP purchased a new position in ONEOK in the second quarter valued at about $15,008,000. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of ONEOK by 11.1% during the third quarter. Nations Financial Group Inc. IA ADV now owns 54,557 shares of the utilities provider’s stock valued at $4,972,000 after buying an additional 5,451 shares during the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research note on Wednesday, December 18th. Finally, Barclays increased their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

View Our Latest Stock Report on ONEOK

ONEOK Stock Performance

ONEOK stock remained flat at $101.62 during trading on Tuesday. 1,300,316 shares of the company were exchanged, compared to its average volume of 2,291,650. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market capitalization of $59.36 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 5.24 and a beta of 1.70. ONEOK, Inc. has a 1 year low of $67.05 and a 1 year high of $118.07. The company has a fifty day moving average of $105.10 and a 200-day moving average of $94.34.

ONEOK (NYSE:OKEGet Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter in the previous year, the business posted $0.99 EPS. Analysts anticipate that ONEOK, Inc. will post 5.1 EPS for the current year.

ONEOK Dividend Announcement

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

ONEOK Company Profile

(Free Report)

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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Institutional Ownership by Quarter for ONEOK (NYSE:OKE)

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