Harvest Fund Management Co. Ltd Has $608,000 Position in ONEOK, Inc. (NYSE:OKE)

Harvest Fund Management Co. Ltd raised its stake in ONEOK, Inc. (NYSE:OKE) by 118.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,053 shares of the utilities provider’s stock after acquiring an additional 3,281 shares during the period. Harvest Fund Management Co. Ltd’s holdings in ONEOK were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Empowered Funds LLC raised its stake in ONEOK by 8.8% in the third quarter. Empowered Funds LLC now owns 9,884 shares of the utilities provider’s stock valued at $901,000 after purchasing an additional 797 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of ONEOK by 1.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 192,611 shares of the utilities provider’s stock valued at $17,553,000 after buying an additional 2,921 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of ONEOK by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 423,270 shares of the utilities provider’s stock worth $38,573,000 after acquiring an additional 4,157 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of ONEOK by 25.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 11,409 shares of the utilities provider’s stock worth $1,040,000 after acquiring an additional 2,307 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in ONEOK by 10.3% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 71,918 shares of the utilities provider’s stock valued at $6,554,000 after acquiring an additional 6,713 shares during the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Performance

Shares of ONEOK stock opened at $100.75 on Friday. The stock has a market cap of $62.90 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a twelve month low of $76.23 and a twelve month high of $118.07. The company’s fifty day moving average is $98.99 and its 200 day moving average is $99.75. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.11. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $6.18 billion. Sell-side analysts forecast that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a dividend of $1.03 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.09%. ONEOK’s dividend payout ratio (DPR) is presently 79.69%.

Analyst Ratings Changes

OKE has been the subject of several recent analyst reports. Citigroup assumed coverage on ONEOK in a research note on Friday, February 28th. They set a “buy” rating and a $110.00 target price for the company. US Capital Advisors upgraded ONEOK from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Scotiabank dropped their target price on shares of ONEOK from $109.00 to $102.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company dropped their price objective on shares of ONEOK from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.31.

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.