Chevy Chase Trust Holdings LLC Sells 6,611 Shares of ONEOK, Inc. (NYSE:OKE)

Chevy Chase Trust Holdings LLC lessened its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 2.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 307,339 shares of the utilities provider’s stock after selling 6,611 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in ONEOK were worth $30,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $30,000. Access Investment Management LLC bought a new position in shares of ONEOK in the third quarter valued at approximately $37,000. Values First Advisors Inc. bought a new position in shares of ONEOK in the third quarter valued at approximately $44,000. Fortitude Family Office LLC raised its position in shares of ONEOK by 37.4% in the third quarter. Fortitude Family Office LLC now owns 496 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of ONEOK by 98.1% in the fourth quarter. Versant Capital Management Inc now owns 525 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 260 shares during the period. Institutional investors own 69.13% of the company’s stock.

ONEOK Stock Down 1.0 %

OKE opened at $97.96 on Friday. ONEOK, Inc. has a fifty-two week low of $69.01 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The firm’s fifty day moving average price is $102.01 and its two-hundred day moving average price is $97.94. The company has a market capitalization of $57.23 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.67 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 3rd were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend was Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is currently 86.19%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on OKE shares. Wells Fargo & Company lowered shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. US Capital Advisors raised shares of ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Wolfe Research upgraded shares of ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a research note on Monday, February 10th. Scotiabank began coverage on shares of ONEOK in a research note on Friday, January 10th. They issued a “sector outperform” rating and a $109.00 price objective on the stock. Finally, Truist Financial raised their price objective on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.92.

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.