Assenagon Asset Management S.A. Buys 225,359 Shares of ONEOK, Inc. $OKE

Assenagon Asset Management S.A. grew its position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 78.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 512,143 shares of the utilities provider's stock after acquiring an additional 225,359 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of ONEOK worth $44,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Triune Financial Partners LLC purchased a new position in ONEOK in the fourth quarter worth $1,151,000. Swiss Life Asset Management Ltd raised its stake in shares of ONEOK by 219.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 1,522,404 shares of the utilities provider's stock worth $111,897,000 after purchasing an additional 1,045,976 shares during the period. First Eagle Investment Management LLC raised its stake in shares of ONEOK by 46.3% during the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock worth $835,350,000 after purchasing an additional 3,596,089 shares during the period. Castle Rock Wealth Management LLC boosted its holdings in shares of ONEOK by 360.0% in the 4th quarter. Castle Rock Wealth Management LLC now owns 36,216 shares of the utilities provider's stock worth $2,815,000 after buying an additional 28,343 shares during the last quarter. Finally, Torray Investment Partners LLC purchased a new position in shares of ONEOK in the 4th quarter worth about $19,109,000. Institutional investors own 69.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OKE. Wall Street Zen upgraded shares of ONEOK from a "sell" rating to a "hold" rating in a report on Sunday. Barclays reduced their target price on shares of ONEOK from $90.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 8th. Scotiabank lowered shares of ONEOK from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $92.00 to $89.00 in a research note on Thursday, April 30th. Weiss Ratings raised shares of ONEOK from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, May 18th. Finally, TD Cowen upped their price objective on ONEOK from $85.00 to $90.00 and gave the company a "hold" rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.81.

ONEOK Trading Down 1.8%

Shares of ONEOK stock opened at $86.33 on Friday. The stock has a market capitalization of $54.42 billion, a P/E ratio of 14.89, a P/E/G ratio of 4.50 and a beta of 0.73. ONEOK, Inc. has a 52-week low of $64.02 and a 52-week high of $96.07. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.56 and a current ratio of 0.74. The stock's 50-day simple moving average is $88.95 and its 200 day simple moving average is $87.04.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Monday, August 3rd. The utilities provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.07. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. The firm had revenue of $12.05 billion during the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter last year, the company earned $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. As a group, research analysts anticipate that ONEOK, Inc. will post 5.87 EPS for the current year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, August 3rd. ONEOK's payout ratio is currently 73.79%.

ONEOK Company 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.

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