ONEOK, Inc. (NYSE:OKE) Shares Purchased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 118.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,053 shares of the utilities provider's stock after buying an additional 3,281 shares during the period. Harvest Fund Management Co. Ltd's holdings in ONEOK were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

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ONEOK Price Performance

NYSE OKE traded up $0.12 during mid-day trading on Tuesday, hitting $102.42. The stock had a trading volume of 2,672,797 shares, compared to its average volume of 2,859,856. The company has a 50 day simple moving average of $98.91 and a 200 day simple moving average of $99.99. 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 company has a market cap of $63.94 billion, a price-to-earnings ratio of 21.43, a P/E/G ratio of 3.77 and a beta of 1.70. ONEOK, Inc. has a 52-week low of $76.23 and a 52-week high of $118.07.

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

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 4.02%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. The ex-dividend date was Monday, February 3rd. ONEOK's dividend payout ratio is 79.69%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKE. Citigroup started coverage on ONEOK in a research report on Friday, February 28th. They issued a "buy" rating and a $110.00 target price for the company. Wells Fargo & Company cut their target price on shares of ONEOK from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 26th. Barclays decreased their price target on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. US Capital Advisors raised ONEOK from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, February 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, ONEOK currently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

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.