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

Harvest Portfolios Group Inc. lifted its position in shares of ONEOK, Inc. (NYSE:OKE) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,396 shares of the utilities provider’s stock after buying 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 quarter.

A number of other hedge funds have also modified their holdings of OKE. HM Payson & Co. boosted its position in shares of ONEOK by 6.3% in the third quarter. HM Payson & Co. now owns 1,764 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 105 shares during the period. QRG Capital Management Inc. grew its position in shares of ONEOK by 2.2% during the 2nd quarter. QRG Capital Management Inc. now owns 5,572 shares of the utilities provider’s stock worth $454,000 after purchasing an additional 119 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of ONEOK by 0.9% during the second quarter. Johnson Investment Counsel Inc. now owns 13,623 shares of the utilities provider’s stock worth $1,111,000 after purchasing an additional 122 shares during the period. Brighton Jones LLC raised its position in shares of ONEOK by 1.1% in the second quarter. Brighton Jones LLC now owns 11,462 shares of the utilities provider’s stock valued at $935,000 after buying an additional 122 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. grew its position in ONEOK by 1.4% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 9,202 shares of the utilities provider’s stock worth $839,000 after buying an additional 125 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Barclays increased their target price on ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Mizuho boosted their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.92.

ONEOK Stock Up 1.8 %

Shares of NYSE:OKE opened at $100.40 on Wednesday. The business’s 50-day moving average is $94.01 and its 200-day moving average is $86.20. ONEOK, Inc. has a 1 year low of $63.33 and a 1 year high of $100.40. The company has a market capitalization of $58.65 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 3.98 and a beta of 1.66. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

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

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Insider Activity at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

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.