ONEOK, Inc. (NYSE:OKE) Stake Maintained by Harvey Capital Management Inc.

Harvey Capital Management Inc. held its position in shares of ONEOK, Inc. (NYSE:OKE) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,000 shares of the utilities provider’s stock at the end of the second quarter. Harvey Capital Management Inc.’s holdings in ONEOK were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in ONEOK by 3.9% in the first quarter. Vanguard Group Inc. now owns 23,195,157 shares of the utilities provider’s stock valued at $1,285,939,000 after buying an additional 875,668 shares in the last quarter. BlackRock Inc. raised its position in ONEOK by 2,987.9% in the first quarter. BlackRock Inc. now owns 18,697,403 shares of the utilities provider’s stock valued at $1,036,584,000 after buying an additional 18,091,903 shares in the last quarter. State Street Corp raised its position in ONEOK by 6.1% in the first quarter. State Street Corp now owns 11,330,235 shares of the utilities provider’s stock valued at $628,143,000 after buying an additional 649,957 shares in the last quarter. Neuberger Berman Group LLC raised its position in ONEOK by 16.1% in the first quarter. Neuberger Berman Group LLC now owns 8,572,212 shares of the utilities provider’s stock valued at $475,243,000 after buying an additional 1,190,284 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in ONEOK by 15.9% in the first quarter. Bank of New York Mellon Corp now owns 5,455,920 shares of the utilities provider’s stock valued at $302,476,000 after buying an additional 749,725 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Shares of ONEOK, Inc. (OKE) traded up 0.64% during mid-day trading on Thursday, reaching $54.74. 1,264,322 shares of the company’s stock traded hands. The stock has a market capitalization of $11.55 billion, a PE ratio of 32.68 and a beta of 1.30. The company’s 50-day moving average price is $50.62 and its 200-day moving average price is $53.27. ONEOK, Inc. has a 12-month low of $42.79 and a 12-month high of $59.47.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.82 billion. ONEOK had a return on equity of 10.33% and a net margin of 3.60%. Analysts anticipate that ONEOK, Inc. will post $2.17 earnings per share for the current year.

Several research analysts recently commented on OKE shares. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research report on Wednesday, July 5th. BidaskClub upgraded ONEOK from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price target on shares of ONEOK in a research report on Friday, March 31st. Argus upgraded ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, June 21st. Finally, Zacks Investment Research lowered ONEOK from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $57.31.

In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $50.34, for a total transaction of $100,680.00. Following the completion of the transaction, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.90% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.