ONEOK, Inc. $OKE Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. boosted its position in shares of ONEOK, Inc. (NYSE:OKE) by 37.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 92,550 shares of the utilities provider’s stock after acquiring an additional 25,109 shares during the period. Harvest Portfolios Group Inc.’s holdings in ONEOK were worth $7,555,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Access Investment Management LLC acquired a new stake in shares of ONEOK during the 2nd quarter valued at about $33,000. Financial Network Wealth Advisors LLC raised its holdings in ONEOK by 2,466.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 385 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 370 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in ONEOK during the first quarter worth approximately $40,000. Trust Co. of Toledo NA OH purchased a new stake in shares of ONEOK in the second quarter valued at approximately $42,000. Finally, Cheviot Value Management LLC purchased a new position in shares of ONEOK during the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Wall Street Analyst Weigh In

OKE has been the subject of several recent analyst reports. Argus raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday. The Goldman Sachs Group reissued a “neutral” rating and set a $72.00 target price on shares of ONEOK in a research note on Monday. Mizuho reduced their price target on shares of ONEOK from $87.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Morgan Stanley lowered their price objective on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Finally, Barclays cut their price objective on ONEOK from $83.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.94.

ONEOK Stock Performance

NYSE OKE opened at $67.82 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.46 and a current ratio of 0.90. The stock’s fifty day moving average is $71.08 and its two-hundred day moving average is $77.35. The firm has a market capitalization of $42.67 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $118.07.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. ONEOK had a return on equity of 15.12% and a net margin of 10.58%.The business had revenue of $9.17 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the firm earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Monday, November 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, November 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 6.1%. ONEOK’s dividend payout ratio is currently 75.74%.

Insiders Place Their Bets

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was bought at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the purchase, the director directly owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.

ONEOK Company 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.