Assenagon Asset Management S.A. Has $42.87 Million Holdings in ONEOK, Inc. $OKE

Assenagon Asset Management S.A. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 51.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 587,451 shares of the utilities provider’s stock after selling 617,057 shares during the period. Assenagon Asset Management S.A.’s holdings in ONEOK were worth $42,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in ONEOK by 1.7% during the second quarter. Vanguard Group Inc. now owns 76,510,971 shares of the utilities provider’s stock worth $6,245,591,000 after acquiring an additional 1,314,002 shares during the period. Charles Schwab Investment Management Inc. grew its position in ONEOK by 2.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,570,904 shares of the utilities provider’s stock worth $1,760,833,000 after purchasing an additional 613,674 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ONEOK by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 15,800,797 shares of the utilities provider’s stock worth $1,284,303,000 after purchasing an additional 355,751 shares during the period. Invesco Ltd. lifted its position in shares of ONEOK by 0.6% in the 2nd quarter. Invesco Ltd. now owns 8,386,831 shares of the utilities provider’s stock worth $684,617,000 after acquiring an additional 46,892 shares during the period. Finally, Tortoise Capital Advisors L.L.C. grew its holdings in shares of ONEOK by 17.1% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 7,171,795 shares of the utilities provider’s stock worth $711,586,000 after purchasing an additional 1,047,810 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on OKE shares. TD Cowen lowered their price objective on ONEOK from $78.00 to $76.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Barclays decreased their price target on ONEOK from $83.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Morgan Stanley lowered their price target on ONEOK from $122.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, November 6th. Finally, Stifel Nicolaus set a $94.00 target price on shares of ONEOK in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

ONEOK Stock Down 1.9%

ONEOK stock opened at $71.66 on Friday. The company has a 50 day moving average of $70.27 and a 200-day moving average of $74.96. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $111.02. The stock has a market capitalization of $45.09 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 4.46 and a beta of 0.95.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. During the same period last year, the company earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, equities research analysts anticipate that ONEOK, Inc. will post 5.07 EPS for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 3rd were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, November 3rd. ONEOK’s dividend payout ratio (DPR) is currently 75.74%.

Insider Activity at ONEOK

In related news, Director Brian L. Derksen purchased 2,500 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $66.00 per share, with a total value of $165,000.00. Following the acquisition, the director directly owned 21,200 shares in the company, valued at $1,399,200. The trade was a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.