Chevy Chase Trust Holdings LLC Buys 4,539 Shares of ONEOK, Inc. $OKE

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in ONEOK, Inc. by 1.4%, now owning 330,713 shares valued at approximately $26.99 million.
• ONEOK reported quarterly earnings of $1.34 per share, exceeding expectations, with revenues reaching $8.21 billion, surpassing analyst estimates of $7.20 billion.
• The company has announced a quarterly dividend of $1.03 per share, providing an annualized yield of 6.1%, set to be paid on November 14th.

Chevy Chase Trust Holdings LLC raised its stake in ONEOK, Inc. (NYSE:OKE - Free Report) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 330,713 shares of the utilities provider's stock after purchasing an additional 4,539 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of ONEOK worth $26,996,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in ONEOK by 7.2% in the first quarter. Vanguard Group Inc. now owns 75,196,969 shares of the utilities provider's stock valued at $7,461,043,000 after purchasing an additional 5,076,705 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ONEOK by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 20,957,230 shares of the utilities provider's stock valued at $2,079,376,000 after purchasing an additional 2,542,449 shares in the last quarter. Invesco Ltd. increased its stake in ONEOK by 25.1% in the first quarter. Invesco Ltd. now owns 8,339,939 shares of the utilities provider's stock valued at $827,489,000 after purchasing an additional 1,674,706 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in ONEOK by 17.1% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider's stock valued at $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. Finally, Northern Trust Corp increased its stake in ONEOK by 5.3% in the first quarter. Northern Trust Corp now owns 6,879,863 shares of the utilities provider's stock valued at $682,620,000 after purchasing an additional 344,002 shares in the last quarter. 69.13% of the stock is owned by institutional investors.

ONEOK Stock Up 1.3%

ONEOK stock opened at $68.08 on Friday. ONEOK, Inc. has a fifty-two week low of $66.56 and a fifty-two week high of $118.07. The stock has a market cap of $42.88 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.64 and a beta of 1.01. The firm's 50-day simple moving average is $72.92 and its 200 day simple moving average is $79.03. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.59.

ONEOK (NYSE:OKE - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analysts' expectations of $7.20 billion. During the same period in the previous year, the company earned $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. Research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on OKE shares. Royal Bank Of Canada decreased their price target on shares of ONEOK from $94.00 to $88.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 13th. Barclays decreased their price target on shares of ONEOK from $83.00 to $78.00 and set an "equal weight" rating for the company in a research note on Thursday, October 9th. Morgan Stanley reduced their price objective on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. The Goldman Sachs Group initiated coverage on shares of ONEOK in a report on Tuesday, September 30th. They set a "neutral" rating and a $75.00 price objective for the company. Finally, Mizuho reduced their price objective on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating for the company in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.27.

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.

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