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

Assenagon Asset Management S.A. lessened its stake in shares of ONEOK, Inc. (NYSE:OKE) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 540,333 shares of the utilities provider’s stock after selling 48,468 shares during the period. Assenagon Asset Management S.A.’s holdings in ONEOK were worth $54,249,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock valued at $1,593,023,000 after acquiring an additional 661,854 shares in the last quarter. Geode Capital Management LLC grew its position in ONEOK by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 13,680,875 shares of the utilities provider’s stock valued at $1,242,449,000 after purchasing an additional 138,430 shares during the last quarter. Janus Henderson Group PLC increased its stake in ONEOK by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 3,751,172 shares of the utilities provider’s stock valued at $341,844,000 after purchasing an additional 11,189 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in ONEOK by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock worth $272,377,000 after buying an additional 132,326 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of ONEOK by 9,439.9% in the third quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after buying an additional 3,197,121 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

ONEOK Stock Performance

OKE opened at $106.83 on Thursday. ONEOK, Inc. has a 12-month low of $67.05 and a 12-month high of $118.07. The company has a market cap of $62.41 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 5.24 and a beta of 1.70. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The company’s 50 day moving average is $105.95 and its 200 day moving average is $95.28.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the business earned $0.99 EPS. On average, equities research analysts predict that ONEOK, Inc. will post 5.1 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on OKE. Royal Bank of Canada raised their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. UBS Group lifted their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank assumed coverage on ONEOK in a report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target on the stock. US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They set a “buy” rating and a $105.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.54.

About ONEOK

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.