TCTC Holdings LLC Has $478,000 Stock Holdings in ONEOK, Inc. (NYSE:OKE)

TCTC Holdings LLC trimmed its position in shares of ONEOK, Inc. (NYSE:OKE) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,761 shares of the utilities provider’s stock after selling 275 shares during the period. TCTC Holdings LLC’s holdings in ONEOK were worth $478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 18,414,781 shares of the utilities provider’s stock valued at $1,848,844,000 after acquiring an additional 934,007 shares during the period. Geode Capital Management LLC increased its stake in ONEOK by 1.0% during the third quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after acquiring an additional 138,430 shares during the period. Amundi increased its stake in ONEOK by 5.3% during the fourth quarter. Amundi now owns 4,105,596 shares of the utilities provider’s stock valued at $422,261,000 after acquiring an additional 207,324 shares during the period. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% during the third quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after acquiring an additional 11,189 shares during the period. Finally, Chickasaw Capital Management LLC increased its stake in ONEOK by 15.2% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,992,336 shares of the utilities provider’s stock valued at $200,031,000 after acquiring an additional 263,545 shares during the period. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Up 3.2 %

NYSE:OKE opened at $96.52 on Monday. The stock’s fifty day moving average price is $99.21 and its two-hundred day moving average price is $99.65. ONEOK, Inc. has a 52-week low of $76.23 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 cap of $60.26 billion, a price-to-earnings ratio of 20.19, a P/E/G ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.27%. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s dividend payout ratio is 79.69%.

Analysts Set New Price Targets

OKE has been the topic of several research reports. Wells Fargo & Company lowered their price target on ONEOK from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 26th. Barclays lowered their price objective on ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wolfe Research upgraded ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Finally, Citigroup started coverage on ONEOK in a research note on Friday, February 28th. They issued a “buy” rating and a $110.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.31.

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.