Chevy Chase Trust Holdings LLC Sells 5,472 Shares of ONEOK, Inc. (NYSE:OKE)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 313,950 shares of the utilities provider’s stock after selling 5,472 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of ONEOK worth $28,610,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of OKE. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock worth $554,158,000 after acquiring an additional 232,043 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in ONEOK by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after purchasing an additional 132,326 shares during the period. International Assets Investment Management LLC lifted its stake in ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Finally, abrdn plc boosted its stake in shares of ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after purchasing an additional 277,514 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Trading Down 2.8 %

Shares of OKE stock opened at $110.43 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a fifty-two week low of $65.49 and a fifty-two week high of $118.07. The firm’s 50 day moving average price is $100.75 and its two-hundred day moving average price is $90.13. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 5.75 and a beta of 1.69.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. On average, analysts anticipate that ONEOK, Inc. will post 5.08 EPS for the current year.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.99 per share. The ex-dividend date was Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.59%. ONEOK’s payout ratio is currently 82.85%.

Insider Activity

In other ONEOK 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays increased their target price on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Scotiabank upped their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. Mizuho raised ONEOK to a “hold” rating in a research note on Thursday, November 7th. US Capital Advisors raised ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.