Chevy Chase Trust Holdings LLC Sells 4,858 Shares of ONEOK, Inc. (NYSE:OKE)

Chevy Chase Trust Holdings LLC decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 323,348 shares of the utilities provider’s stock after selling 4,858 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of ONEOK worth $25,923,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in ONEOK during the first quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new position in shares of ONEOK during the first quarter worth approximately $26,000. Beacon Capital Management LLC grew its holdings in ONEOK by 90.7% in the 4th quarter. Beacon Capital Management LLC now owns 408 shares of the utilities provider’s stock valued at $29,000 after buying an additional 194 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in ONEOK in the 4th quarter worth about $32,000. Finally, American National Bank bought a new stake in shares of ONEOK during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OKE. Morgan Stanley lifted their target price on ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. US Capital Advisors lowered ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Mizuho raised their price target on shares of ONEOK from $75.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus increased their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, ONEOK has an average rating of “Hold” and a consensus target price of $84.50.

ONEOK Stock Down 0.6 %

Shares of OKE traded down $0.47 during trading hours on Wednesday, reaching $81.95. 506,701 shares of the stock traded hands, compared to its average volume of 2,777,583. ONEOK, Inc. has a 52 week low of $60.58 and a 52 week high of $83.31. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The stock has a fifty day simple moving average of $80.39 and a 200 day simple moving average of $76.54. The company has a market cap of $47.83 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 4.39 and a beta of 1.65.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company posted $2.34 earnings per share. On average, equities analysts forecast that ONEOK, Inc. will post 4.95 EPS for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) 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.