Harvest Fund Management Co. Ltd Has $253,000 Holdings in ONEOK, Inc. (NYSE:OKE)

Harvest Fund Management Co. Ltd trimmed its position in ONEOK, Inc. (NYSE:OKE) by 6.0% during the third quarter, HoldingsChannel.com reports. The firm owned 2,772 shares of the utilities provider’s stock after selling 177 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in ONEOK were worth $253,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in ONEOK during the 3rd quarter worth approximately $990,000. Daiwa Securities Group Inc. boosted its holdings in ONEOK by 9.4% during the third quarter. Daiwa Securities Group Inc. now owns 84,908 shares of the utilities provider’s stock worth $7,737,000 after purchasing an additional 7,280 shares during the last quarter. Summit Trail Advisors LLC grew its position in ONEOK by 23.4% in the third quarter. Summit Trail Advisors LLC now owns 8,640 shares of the utilities provider’s stock valued at $787,000 after purchasing an additional 1,637 shares in the last quarter. Larson Financial Group LLC increased its stake in ONEOK by 3.9% in the 3rd quarter. Larson Financial Group LLC now owns 30,049 shares of the utilities provider’s stock valued at $2,738,000 after buying an additional 1,131 shares during the last quarter. Finally, Kingsview Wealth Management LLC lifted its position in ONEOK by 90.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 30,822 shares of the utilities provider’s stock worth $2,809,000 after buying an additional 14,647 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Trading Up 1.7 %

Shares of NYSE:OKE opened at $113.45 on Wednesday. ONEOK, Inc. has a 12-month low of $65.49 and a 12-month high of $118.07. The business has a 50 day moving average of $99.60 and a 200-day moving average of $89.46. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $66.28 billion, a PE ratio of 23.73, a P/E/G ratio of 5.84 and a beta of 1.66.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter last year, the firm earned $0.99 earnings per share. As a group, equities research analysts forecast that ONEOK, Inc. will post 5.15 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were paid a $0.99 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.49%. ONEOK’s dividend payout ratio (DPR) is presently 82.85%.

Insider Buying and Selling

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OKE. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank increased their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a report on Friday, August 30th. Wells Fargo & Company boosted their target price on shares of ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $100.38.

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.