Harbor Investment Advisory LLC Has $106,000 Stock Position in ONEOK, Inc. (NYSE:OKE)

Harbor Investment Advisory LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE) by 154.5% during the first quarter, Holdings Channel reports. The firm owned 1,069 shares of the utilities provider’s stock after buying an additional 649 shares during the period. Harbor Investment Advisory LLC’s holdings in ONEOK were worth $106,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in OKE. Greenline Partners LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $32,000. Vermillion Wealth Management Inc. bought a new position in shares of ONEOK in the fourth quarter valued at approximately $37,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of ONEOK in the fourth quarter valued at approximately $39,000. Canton Hathaway LLC bought a new position in shares of ONEOK in the fourth quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp bought a new position in shares of ONEOK in the fourth quarter valued at approximately $48,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OKE. Morgan Stanley lifted their target price on shares of ONEOK from $111.00 to $133.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus cut their target price on shares of ONEOK from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price objective on shares of ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Citigroup dropped their price objective on shares of ONEOK from $110.00 to $102.00 and set a “buy” rating for the company in a research report on Tuesday, May 6th. Finally, Scotiabank dropped their price objective on shares of ONEOK from $100.00 to $96.00 and set a “sector outperform” rating for the company in a research report on Tuesday, May 20th. Six 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. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Price Performance

OKE opened at $83.27 on Wednesday. The company has a fifty day moving average price of $84.57 and a two-hundred day moving average price of $95.91. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. ONEOK, Inc. has a 52 week low of $75.48 and a 52 week high of $118.07. The firm has a market capitalization of $52.01 billion, a PE ratio of 17.42, a P/E/G ratio of 3.77 and a beta of 1.01.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.24). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the firm earned $1.09 EPS. As a group, analysts anticipate that ONEOK, Inc. will post 5.07 earnings per share for the current year.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, May 5th. ONEOK’s dividend payout ratio (DPR) is 80.47%.

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.