Harvest Portfolios Group Inc. Raises Holdings in ONEOK, Inc. $OKE

Harvest Portfolios Group Inc. increased its holdings in ONEOK, Inc. (NYSE:OKE) by 37.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,550 shares of the utilities provider’s stock after buying 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 Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vestmark Advisory Solutions Inc. raised its position in shares of ONEOK by 6.1% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 19,420 shares of the utilities provider’s stock worth $1,585,000 after acquiring an additional 1,118 shares in the last quarter. Nvwm LLC grew its stake in ONEOK by 11.5% in the second quarter. Nvwm LLC now owns 16,332 shares of the utilities provider’s stock valued at $1,333,000 after purchasing an additional 1,684 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in ONEOK by 130.8% in the second quarter. First Eagle Investment Management LLC now owns 6,256,173 shares of the utilities provider’s stock worth $510,691,000 after purchasing an additional 3,545,256 shares in the last quarter. Ipsen Advisor Group LLC lifted its position in shares of ONEOK by 14.0% during the second quarter. Ipsen Advisor Group LLC now owns 6,725 shares of the utilities provider’s stock valued at $549,000 after buying an additional 827 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its holdings in shares of ONEOK by 46.5% in the 2nd quarter. Modera Wealth Management LLC now owns 5,444 shares of the utilities provider’s stock valued at $444,000 after buying an additional 1,729 shares in the last quarter. Institutional investors own 69.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on OKE shares. Scotiabank reduced their price objective on shares of ONEOK from $88.00 to $87.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target (down from $100.00) on shares of ONEOK in a research report on Friday, October 24th. Wells Fargo & Company decreased their price objective on ONEOK from $90.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. TD Cowen dropped their target price on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Finally, Barclays reduced their target price on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $91.94.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Brian L. Derksen bought 2,500 shares of ONEOK stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $66.00 per share, with a total value of $165,000.00. Following the completion of the acquisition, the director directly owned 21,200 shares in the company, valued at approximately $1,399,200. This trade represents a 13.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is owned by insiders.

ONEOK Stock Performance

Shares of OKE stock opened at $67.82 on Friday. The business has a fifty day moving average of $71.08 and a 200 day moving average of $77.35. ONEOK, Inc. has a 1 year low of $64.02 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.90 and a quick ratio of 0.46. The firm has a market capitalization of $42.67 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, beating 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 the consensus estimate of $8.23 billion. During the same quarter in the previous year, the business earned $1.18 EPS. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. As a group, research analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

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

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.