ONEOK, Inc. $OKE Stock Position Cut by Harvey Capital Management Inc.

Harvey Capital Management Inc. decreased its stake in shares of ONEOK, Inc. (NYSE:OKE) by 80.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,350 shares of the utilities provider’s stock after selling 39,448 shares during the period. Harvey Capital Management Inc.’s holdings in ONEOK were worth $813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKE. Brighton Jones LLC boosted its holdings in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares in the last quarter. Empowered Funds LLC raised its holdings in ONEOK by 0.8% during the first quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 137 shares in the last quarter. Acadian Asset Management LLC bought a new position in ONEOK during the 1st quarter valued at $216,000. Federated Hermes Inc. increased its position in shares of ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 383 shares during the period. Finally, NewEdge Advisors LLC increased its position in shares of ONEOK by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after purchasing an additional 4,902 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $92.00 to $89.00 in a report on Thursday, April 30th. Barclays dropped their price target on shares of ONEOK from $90.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 8th. Wall Street Zen raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. TD Cowen raised their price objective on shares of ONEOK from $85.00 to $90.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ONEOK in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.94.

ONEOK Stock Performance

Shares of NYSE OKE opened at $94.87 on Friday. The stock’s fifty day simple moving average is $90.70 and its 200 day simple moving average is $88.67. The stock has a market capitalization of $59.81 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.65 and a beta of 0.73. The company has a quick ratio of 0.59, a current ratio of 0.74 and a debt-to-equity ratio of 1.34. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $97.90.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, beating the consensus estimate of $1.46 by $0.07. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.The business had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same period in the prior year, the business posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, sell-side analysts forecast that ONEOK, Inc. will post 5.84 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. ONEOK’s dividend payout ratio is currently 73.79%.

ONEOK Profile

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.