ONEOK, Inc. $OKE Stock: Assenagon Asset Management S.A. Lowers Holdings

Key Points

• Assenagon Asset Management cut its ONEOK position by 95.2% in the third quarter, selling 487,502 shares and retaining 24,641 shares worth approximately $2.1 million. Institutional investors overall own 69.13% of ONEOK.
• Analysts maintain a generally positive outlook, with ONEOK carrying a “Moderate Buy” consensus rating and an average price target of $97.53, compared with a recent price of $93.12.
• ONEOK reported quarterly EPS of $1.53, exceeding estimates of $1.46, and announced a quarterly dividend of $1.07 per share—an annualized $4.28 payout and approximately 4.6% yield.

Assenagon Asset Management S.A. trimmed its position in ONEOK, Inc. (NYSE:OKE - Free Report) by 95.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 24,641 shares of the utilities provider's stock after selling 487,502 shares during the period. Assenagon Asset Management S.A.'s holdings in ONEOK were worth $2,101,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in ONEOK by 8.7% in the 2nd quarter. BlackRock Inc. now owns 64,537,467 shares of the utilities provider's stock valued at $5,610,887,000 after acquiring an additional 5,148,768 shares during the period. State Street Corp raised its position in ONEOK by 5.0% during the 2nd quarter. State Street Corp now owns 43,633,749 shares of the utilities provider's stock worth $3,793,518,000 after purchasing an additional 2,059,368 shares during the last quarter. First Eagle Investment Management LLC raised its position in ONEOK by 1.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 11,834,827 shares of the utilities provider's stock worth $1,028,920,000 after purchasing an additional 155,652 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in ONEOK by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,552,597 shares of the utilities provider's stock worth $502,000,000 after buying an additional 187,880 shares during the period. Finally, Bank of America Corp DE lifted its holdings in ONEOK by 5.2% during the 1st quarter. Bank of America Corp DE now owns 5,504,989 shares of the utilities provider's stock worth $497,596,000 after buying an additional 272,704 shares during the period. 69.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OKE. The Goldman Sachs Group boosted their price target on shares of ONEOK from $88.00 to $89.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Raymond James Financial reiterated an "outperform" rating and set a $98.00 price objective on shares of ONEOK in a research report on Tuesday. Barclays lowered 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 note on Wednesday, July 8th. Truist Financial increased their price target on ONEOK from $93.00 to $104.00 and gave the stock a "hold" rating in a report on Wednesday, September 2nd. Finally, Wells Fargo & Company boosted their price objective on ONEOK from $98.00 to $106.00 and gave the company an "overweight" rating in a report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $97.53.

ONEOK Price Performance

OKE opened at $93.12 on Thursday. ONEOK, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $99.85. The firm has a 50-day moving average of $92.81 and a 200 day moving average of $90.19. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.59 and a current ratio of 0.74. The firm has a market cap of $58.70 billion, a P/E ratio of 15.82, a PEG ratio of 1.85 and a beta of 0.82.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The utilities provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.46 by $0.07. The business had revenue of $12.05 billion for the quarter, compared to analyst estimates of $8.95 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%. During the same quarter in the previous year, the firm posted $1.34 earnings per share. ONEOK has set its FY 2026 guidance at 5.680-5.680 EPS. On average, research analysts expect that ONEOK, Inc. will post 5.72 EPS for the current year.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, November 2nd. ONEOK's dividend payout ratio is 73.79%.

ONEOK Profile

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.

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