ONEOK, Inc. (NYSE:OKE) Raises Dividend to $1.03 Per Share

ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 1.03 per share by the utilities provider on Friday, February 14th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99.

ONEOK has increased its dividend by an average of 1.9% per year over the last three years. ONEOK has a payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ONEOK to earn $6.01 per share next year, which means the company should continue to be able to cover its $3.96 annual dividend with an expected future payout ratio of 65.9%.

ONEOK Price Performance

Shares of OKE stock traded down $3.57 during trading hours on Wednesday, reaching $106.28. The company’s stock had a trading volume of 3,191,219 shares, compared to its average volume of 2,865,392. ONEOK has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $62.09 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 4.66 and a beta of 1.70. The firm’s 50 day simple moving average is $106.21 and its 200-day simple moving average is $96.21.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the firm posted $0.99 earnings per share. Sell-side analysts forecast that ONEOK will post 5.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on OKE. Barclays lifted their price objective on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Royal Bank of Canada upped 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. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Truist Financial lifted their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a research report on Tuesday, December 3rd. Finally, US Capital Advisors upgraded ONEOK from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.92.

ONEOK Company 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.