Assenagon Asset Management S.A. Trims Holdings in ONEOK, Inc. (NYSE:OKE)

Assenagon Asset Management S.A. trimmed its position in ONEOK, Inc. (NYSE:OKE) by 23.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 267,834 shares of the utilities provider’s stock after selling 82,205 shares during the quarter. Assenagon Asset Management S.A.’s holdings in ONEOK were worth $21,842,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of OKE. Rise Advisors LLC purchased a new position in ONEOK during the first quarter valued at approximately $25,000. LifeSteps Financial Inc. purchased a new position in ONEOK during the first quarter valued at approximately $26,000. HHM Wealth Advisors LLC acquired a new stake in ONEOK in the fourth quarter valued at approximately $32,000. American National Bank acquired a new stake in ONEOK in the first quarter valued at approximately $32,000. Finally, Security National Bank acquired a new stake in ONEOK in the fourth quarter valued at approximately $35,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on OKE shares. Wells Fargo & Company raised their price objective on ONEOK from $85.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Truist Financial raised their price objective on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Mizuho raised their price objective on ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. raised their price objective on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.50.

ONEOK Trading Up 0.6 %

ONEOK stock traded up $0.49 during trading on Friday, reaching $87.46. 5,567,522 shares of the company were exchanged, compared to its average volume of 2,786,708. ONEOK, Inc. has a 52-week low of $60.58 and a 52-week high of $87.74. The company has a market capitalization of $51.08 billion, a P/E ratio of 20.34, a PEG ratio of 4.54 and a beta of 1.65. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The stock’s 50 day simple moving average is $82.39 and its two-hundred day simple moving average is $79.03.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the business posted $1.04 earnings per share. On average, equities research analysts expect that ONEOK, Inc. will post 4.99 earnings per share for the current fiscal year.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.99 per share. The ex-dividend date was Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.53%. ONEOK’s payout ratio is 92.09%.

ONEOK 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.