Harvest Portfolios Group Inc. Has $5.78 Million Stake in ONEOK, Inc. (NYSE:OKE)

Harvest Portfolios Group Inc. boosted its stake in shares of ONEOK, Inc. (NYSE:OKE) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,396 shares of the utilities provider’s stock after purchasing an additional 1,399 shares during the period. Harvest Portfolios Group Inc.’s holdings in ONEOK were worth $5,777,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OKE. Norden Group LLC grew its stake in ONEOK by 153.1% in the first quarter. Norden Group LLC now owns 7,458 shares of the utilities provider’s stock valued at $598,000 after purchasing an additional 4,511 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of ONEOK by 4.5% in the first quarter. Nordea Investment Management AB now owns 35,326 shares of the utilities provider’s stock worth $2,827,000 after purchasing an additional 1,513 shares during the period. Whittier Trust Co. grew its stake in shares of ONEOK by 7.9% in the first quarter. Whittier Trust Co. now owns 9,964 shares of the utilities provider’s stock worth $799,000 after acquiring an additional 727 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in ONEOK during the first quarter worth $88,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in ONEOK by 24.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,564 shares of the utilities provider’s stock valued at $2,210,000 after purchasing an additional 5,439 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

ONEOK Price Performance

OKE opened at $100.40 on Wednesday. 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 stock has a market capitalization of $58.65 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 3.98 and a beta of 1.66. The company’s 50 day simple moving average is $94.01 and its 200-day simple moving average is $86.20. ONEOK, Inc. has a one year low of $63.33 and a one year high of $100.40.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm earned $0.99 EPS. Sell-side analysts anticipate that ONEOK, Inc. will post 5.16 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 82.85%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OKE shares. Bank of America began coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Truist Financial lifted their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Mizuho upped their target price on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, Citigroup raised their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and an average price target of $96.92.

Insider Activity

In other ONEOK 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 value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.