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

Chickasaw Capital Management LLC lifted its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,074,794 shares of the utilities provider's stock after buying an additional 82,458 shares during the quarter. ONEOK comprises approximately 7.9% of Chickasaw Capital Management LLC's holdings, making the stock its 5th biggest position. Chickasaw Capital Management LLC owned approximately 0.33% of ONEOK worth $205,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC bought a new position in ONEOK during the fourth quarter worth $931,000. Brighton Jones LLC boosted its holdings in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after buying an additional 8,834 shares during the period. Clear Creek Financial Management LLC grew its stake in ONEOK by 5.9% in the 4th quarter. Clear Creek Financial Management LLC now owns 5,807 shares of the utilities provider's stock valued at $583,000 after buying an additional 324 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in ONEOK by 3.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,744 shares of the utilities provider's stock valued at $1,882,000 after acquiring an additional 594 shares during the period. Finally, DAVENPORT & Co LLC boosted its holdings in shares of ONEOK by 0.6% during the fourth quarter. DAVENPORT & Co LLC now owns 98,676 shares of the utilities provider's stock worth $9,907,000 after acquiring an additional 605 shares during the period. 69.13% of the stock is currently owned by institutional investors and hedge funds.

ONEOK Trading Up 0.7%

Shares of OKE traded up $0.58 during mid-day trading on Thursday, reaching $81.10. 5,341,475 shares of the company were exchanged, compared to its average volume of 3,331,774. The business has a 50 day simple moving average of $84.21 and a two-hundred day simple moving average of $95.81. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The stock has a market capitalization of $50.66 billion, a PE ratio of 16.97, a PEG ratio of 3.77 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 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 company earned $1.09 EPS. On average, analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently announced 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK's payout ratio is 80.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OKE. Morgan Stanley increased their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Scotiabank lowered their price objective on ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a research report on Thursday. Stifel Nicolaus reduced their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wolfe Research raised shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price on the stock in a report on Monday, February 10th. Finally, Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $103.69.

ONEOK Company Profile

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.