Assenagon Asset Management S.A. Sells 447,887 Shares of ONEOK, Inc. $OKE

Assenagon Asset Management S.A. reduced its holdings in ONEOK, Inc. (NYSE:OKE) by 61.0% during the 1st quarter, Holdings Channel reports. The fund owned 286,784 shares of the utilities provider’s stock after selling 447,887 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ONEOK were worth $25,922,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of ONEOK by 137.1% during the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock worth $1,534,000 after purchasing an additional 8,834 shares during the period. Empowered Funds LLC increased its stake in ONEOK by 0.8% during the 1st 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 acquired a new stake in ONEOK during the 1st quarter worth approximately $216,000. Federated Hermes Inc. raised its holdings in ONEOK by 14.0% during the 2nd quarter. Federated Hermes Inc. now owns 3,120 shares of the utilities provider’s stock worth $255,000 after buying an additional 383 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in ONEOK by 3.9% in the second quarter. NewEdge Advisors LLC now owns 130,347 shares of the utilities provider’s stock valued at $10,640,000 after buying an additional 4,902 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Stock Performance

NYSE:OKE opened at $89.18 on Friday. The company has a quick ratio of 0.56, a current ratio of 0.71 and a debt-to-equity ratio of 1.37. ONEOK, Inc. has a twelve month low of $64.02 and a twelve month high of $96.07. The company has a fifty day moving average of $88.32 and a 200-day moving average of $83.55. The firm has a market capitalization of $56.20 billion, a P/E ratio of 15.90, a P/E/G ratio of 6.69 and a beta of 0.74.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.07). ONEOK had a return on equity of 16.06% and a net margin of 10.03%.The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter last year, the company posted $1.04 EPS. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. As a group, sell-side analysts anticipate that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 4th were issued a $1.07 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.28 annualized dividend and a dividend yield of 4.8%. ONEOK’s dividend payout ratio is currently 76.29%.

Analyst Upgrades and Downgrades

OKE has been the topic of a number of analyst reports. Royal Bank Of Canada upped their price objective on ONEOK from $79.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 19th. Jefferies Financial Group upped their price objective on ONEOK from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Barclays increased their target price on ONEOK from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. TD Cowen upped their target price on ONEOK from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, April 30th. Finally, Scotiabank lowered ONEOK from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $92.00 to $89.00 in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $91.88.

About ONEOK

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.