Chevy Chase Trust Holdings LLC Grows Stake in ONEOK, Inc. $OKE

Chevy Chase Trust Holdings LLC raised its stake in ONEOK, Inc. (NYSE:OKE) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 330,713 shares of the utilities provider’s stock after buying an additional 4,539 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in ONEOK were worth $26,996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKE. Brighton Jones LLC boosted its stake in ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of ONEOK by 20.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 290,937 shares of the utilities provider’s stock valued at $28,867,000 after purchasing an additional 50,272 shares during the period. Ritholtz Wealth Management raised its position in shares of ONEOK by 50.2% in the first quarter. Ritholtz Wealth Management now owns 3,549 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 1,186 shares during the period. QRG Capital Management Inc. raised its position in shares of ONEOK by 5.4% in the first quarter. QRG Capital Management Inc. now owns 7,467 shares of the utilities provider’s stock valued at $741,000 after purchasing an additional 384 shares during the period. Finally, Insigneo Advisory Services LLC bought a new stake in shares of ONEOK in the first quarter valued at approximately $254,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OKE has been the topic of several research reports. TD Cowen initiated coverage on shares of ONEOK in a research report on Monday, July 7th. They issued a “hold” rating and a $91.00 price target on the stock. Morgan Stanley lowered their price target on shares of ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $94.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of ONEOK in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group assumed coverage on shares of ONEOK in a report on Tuesday, September 30th. They set a “neutral” rating and a $75.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $98.27.

ONEOK Price Performance

Shares of NYSE:OKE opened at $68.08 on Friday. The company’s fifty day moving average price is $72.92 and its 200-day moving average price is $79.03. The firm has a market capitalization of $42.88 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.64 and a beta of 1.01. ONEOK, Inc. has a one year low of $66.56 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. During the same quarter in the prior year, the firm earned $1.33 EPS. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Monday, November 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a dividend yield of 6.1%. ONEOK’s dividend payout ratio is presently 80.31%.

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.