Chickasaw Capital Management LLC Has $197.31 Million Position in ONEOK, Inc. $OKE

Chickasaw Capital Management LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 26.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,703,955 shares of the utilities provider’s stock after acquiring an additional 573,782 shares during the quarter. ONEOK makes up about 8.1% of Chickasaw Capital Management LLC’s holdings, making the stock its 6th largest position. Chickasaw Capital Management LLC owned about 0.43% of ONEOK worth $197,308,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in ONEOK by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after purchasing an additional 1,314,002 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock valued at $1,760,833,000 after purchasing an additional 613,674 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ONEOK by 2.3% during the second quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock valued at $1,284,303,000 after buying an additional 355,751 shares during the last quarter. Invesco Ltd. increased its stake in ONEOK by 0.6% in the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after purchasing an additional 46,892 shares during the period. Finally, Tortoise Capital Advisors L.L.C. increased its stake in shares of ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after buying an additional 1,047,810 shares during the period. 69.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on OKE. Mizuho dropped their target price on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Thursday, November 6th. Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday, October 30th. Citigroup lowered their price objective on shares of ONEOK from $102.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, TD Cowen decreased their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen acquired 2,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at $1,399,200. This represents a 13.37% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by company insiders.

ONEOK Price Performance

OKE opened at $73.08 on Thursday. The business has a fifty day moving average of $70.26 and a 200 day moving average of $74.98. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The stock has a market cap of $45.98 billion, a P/E ratio of 13.43, a PEG ratio of 4.36 and a beta of 0.95. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $111.02.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company posted $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 3rd were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.6%. ONEOK’s payout ratio is 75.74%.

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.