Harvest Portfolios Group Inc. Increases Position in ONEOK, Inc. $OKE

Harvest Portfolios Group Inc. grew its position in shares of ONEOK, Inc. (NYSE:OKE) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,741 shares of the utilities provider’s stock after buying an additional 10,848 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in ONEOK were worth $9,830,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in ONEOK in the fourth quarter worth approximately $5,358,000. Larson Financial Group LLC boosted its holdings in ONEOK by 4.6% in the fourth quarter. Larson Financial Group LLC now owns 44,557 shares of the utilities provider’s stock worth $3,275,000 after purchasing an additional 1,963 shares during the last quarter. Csenge Advisory Group raised its position in ONEOK by 13.7% in the fourth quarter. Csenge Advisory Group now owns 9,168 shares of the utilities provider’s stock worth $674,000 after acquiring an additional 1,105 shares during the period. ProShare Advisors LLC raised its position in ONEOK by 7.1% in the fourth quarter. ProShare Advisors LLC now owns 214,027 shares of the utilities provider’s stock worth $15,731,000 after acquiring an additional 14,200 shares during the period. Finally, Envestnet Portfolio Solutions Inc. bought a new position in ONEOK in the fourth quarter worth approximately $2,733,000. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

Shares of NYSE OKE opened at $95.15 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The company has a market cap of $59.95 billion, a P/E ratio of 16.96, a P/E/G ratio of 6.82 and a beta of 0.78. The firm’s fifty day moving average is $88.09 and its two-hundred day moving average is $80.02. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $95.65.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the prior year, the firm posted $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.76 EPS for the current fiscal year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 4th were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. ONEOK’s payout ratio is currently 76.29%.

Wall Street Analyst Weigh In

OKE has been the topic of several recent research reports. Jefferies Financial Group increased their price target on shares of ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. JPMorgan Chase & Co. increased their price target on shares of ONEOK from $91.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Raymond James Financial reiterated an “outperform” rating and issued a $92.00 price target on shares of ONEOK in a research report on Thursday, April 30th. TD Cowen increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Finally, Citigroup increased their price target on shares of ONEOK from $95.00 to $97.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $91.88.

About ONEOK

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.