ONEOK, Inc. (NYSE:OKE) Stock Holdings Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.7% in the third quarter, HoldingsChannel reports. 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’s holdings in ONEOK were worth $28,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. grew its holdings in ONEOK by 3,374.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 224,491 shares of the utilities provider’s stock worth $20,458,000 after buying an additional 218,029 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of ONEOK in the 3rd quarter worth $206,000. Royal Capital Wealth Management LLC bought a new position in ONEOK during the third quarter valued at about $209,000. Paradigm Capital Management LLC NV bought a new stake in ONEOK in the third quarter worth about $275,000. Finally, FSA Wealth Management LLC bought a new stake in ONEOK in the third quarter worth about $57,000. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OKE shares. US Capital Advisors raised shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Barclays upped their price target on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. UBS Group raised their price objective on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company lifted their target price on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Stock Performance

Shares of OKE opened at $110.43 on Tuesday. ONEOK, Inc. has a 52 week low of $65.49 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 capitalization of $64.51 billion, a PE ratio of 23.10, a PEG ratio of 5.75 and a beta of 1.69. The company’s 50 day moving average price is $100.75 and its 200 day moving average price is $90.13.

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

ONEOK Dividend Announcement

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

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

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.