ONEOK, Inc. (NYSE:OKE) is Chickasaw Capital Management LLC’s 7th Largest Position

Chickasaw Capital Management LLC decreased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,728,791 shares of the utilities provider’s stock after selling 20,279 shares during the period. ONEOK makes up about 6.7% of Chickasaw Capital Management LLC’s holdings, making the stock its 7th biggest position. Chickasaw Capital Management LLC owned approximately 0.30% of ONEOK worth $157,545,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. QRG Capital Management Inc. grew its stake in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 119 shares during the period. Johnson Investment Counsel Inc. grew its position in ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after buying an additional 122 shares during the period. Brighton Jones LLC increased its holdings in ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after buying an additional 122 shares in the last quarter. Capital Wealth Planning LLC lifted its position in shares of ONEOK by 4.3% during the 2nd quarter. Capital Wealth Planning LLC now owns 3,166 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 131 shares during the period. Finally, Aviso Wealth Management boosted its stake in shares of ONEOK by 1.7% during the 2nd quarter. Aviso Wealth Management now owns 7,813 shares of the utilities provider’s stock worth $637,000 after acquiring an additional 134 shares in the last quarter. 69.13% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank lifted their price objective on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Mizuho upped their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $92.38.

ONEOK Stock Up 2.0 %

ONEOK stock traded up $1.92 during midday trading on Friday, hitting $96.61. 4,026,403 shares of the company were exchanged, compared to its average volume of 2,759,627. The company has a market cap of $56.43 billion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67. ONEOK, Inc. has a fifty-two week low of $63.33 and a fifty-two week high of $96.64. The company’s fifty day moving average price is $90.44 and its 200-day moving average price is $84.07. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the business earned $1.04 EPS. On average, research analysts predict that ONEOK, Inc. will post 5.09 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, August 1st. ONEOK’s payout ratio is currently 86.27%.

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.