Chevy Chase Trust Holdings LLC Sells 3,926 Shares of ONEOK, Inc. (NYSE:OKE)

Chevy Chase Trust Holdings LLC lessened its holdings in ONEOK, Inc. (NYSE:OKE) by 1.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 319,422 shares of the utilities provider’s stock after selling 3,926 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of ONEOK worth $26,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. raised its position in shares of ONEOK by 7.3% in the fourth quarter. Hilltop Holdings Inc. now owns 16,525 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 1,124 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in ONEOK by 26.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 24,568 shares of the utilities provider’s stock valued at $1,725,000 after purchasing an additional 5,167 shares in the last quarter. Federated Hermes Inc. raised its position in ONEOK by 31.6% during the fourth quarter. Federated Hermes Inc. now owns 160,596 shares of the utilities provider’s stock valued at $11,277,000 after purchasing an additional 38,560 shares in the last quarter. TD Asset Management Inc raised its position in ONEOK by 11.6% during the fourth quarter. TD Asset Management Inc now owns 208,063 shares of the utilities provider’s stock valued at $14,610,000 after purchasing an additional 21,657 shares in the last quarter. Finally, Norden Group LLC raised its position in ONEOK by 4,460.2% during the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock valued at $10,773,000 after purchasing an additional 131,441 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Wells Fargo & Company raised their price target on ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, June 26th. Finally, Morgan Stanley raised their price objective on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.50.

ONEOK Stock Up 0.6 %

NYSE OKE traded up $0.56 during mid-day trading on Wednesday, reaching $87.15. The stock had a trading volume of 658,529 shares, compared to its average volume of 2,764,615. ONEOK, Inc. has a 1 year low of $60.58 and a 1 year high of $88.68. The stock has a market cap of $50.90 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 4.36 and a beta of 1.65. The company has a fifty day moving average price of $82.70 and a 200 day moving average price of $79.44. 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 announced its 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 in the previous year, the business earned $1.04 EPS. On average, research analysts expect that ONEOK, Inc. will post 4.98 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.99 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.54%. ONEOK’s dividend payout ratio is presently 92.09%.

ONEOK 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.