Banco Santander S.A. Acquires 4,880 Shares of ONEOK, Inc. (NYSE:OKE)

Key Points

• Banco Santander S.A. increased its stake in ONEOK, Inc. by 22.2%, adding 4,880 shares during the first quarter and bringing its total holdings to 26,824 shares valued at $2,661,000.
• ONEOK recently declared a quarterly $1.03 dividend to be paid on August 14th, with a current dividend yield of 5.2% and a payout ratio of 80.47%.
• Despite a recent 3.8% drop in stock price, analysts remain optimistic, with a consensus target price set at $104.57 for ONEOK, indicating a generally "Moderate Buy" rating.

Banco Santander S.A. raised its holdings in ONEOK, Inc. (NYSE:OKE - Free Report) by 22.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,824 shares of the utilities provider's stock after buying an additional 4,880 shares during the quarter. Banco Santander S.A.'s holdings in ONEOK were worth $2,661,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in OKE. Klein Pavlis & Peasley Financial Inc. boosted its position in shares of ONEOK by 5.8% during the first quarter. Klein Pavlis & Peasley Financial Inc. now owns 48,470 shares of the utilities provider's stock valued at $4,823,000 after purchasing an additional 2,651 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of ONEOK by 1.5% during the first quarter. PNC Financial Services Group Inc. now owns 182,794 shares of the utilities provider's stock valued at $18,137,000 after purchasing an additional 2,624 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of ONEOK by 19.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,820,199 shares of the utilities provider's stock valued at $180,600,000 after purchasing an additional 293,300 shares in the last quarter. SPC Financial Inc. boosted its position in shares of ONEOK by 7.3% during the first quarter. SPC Financial Inc. now owns 33,539 shares of the utilities provider's stock valued at $3,328,000 after purchasing an additional 2,294 shares in the last quarter. Finally, TIAA Trust National Association boosted its position in shares of ONEOK by 14.4% during the first quarter. TIAA Trust National Association now owns 6,310 shares of the utilities provider's stock valued at $626,000 after purchasing an additional 792 shares in the last quarter. 69.13% of the stock is currently owned by institutional investors.

ONEOK Stock Down 3.8%

OKE stock opened at $79.02 on Monday. ONEOK, Inc. has a 1-year low of $75.47 and a 1-year high of $118.07. The business has a fifty day moving average price of $81.42 and a 200-day moving average price of $88.50. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.52. The stock has a market capitalization of $49.75 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.87 and a beta of 0.99.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 1st will be paid a $1.03 dividend. The ex-dividend date is Friday, August 1st. This represents a $4.12 annualized dividend and a dividend yield of 5.2%. ONEOK's payout ratio is currently 80.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Scotiabank set a $92.00 price target on ONEOK and gave the company a "sector outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada dropped their price target on ONEOK from $100.00 to $94.00 and set a "sector perform" rating on the stock in a research report on Friday. Raymond James Financial restated an "outperform" rating on shares of ONEOK in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on ONEOK from $94.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $104.57.

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.

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