ONEOK, Inc. (NYSE:OKE) to Issue Quarterly Dividend of $1.03

ONEOK, Inc. (NYSE:OKE) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Monday, February 3rd will be given a dividend of 1.03 per share by the utilities provider on Friday, February 14th. This represents a $4.12 annualized dividend and a yield of 4.25%. The ex-dividend date is Monday, February 3rd. This is a boost from ONEOK’s previous quarterly dividend of $0.99.

ONEOK has raised its dividend by an average of 1.9% annually over the last three years. ONEOK has a dividend payout ratio of 62.1% meaning its dividend is sufficiently covered by earnings. Analysts expect ONEOK to earn $6.00 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 68.7%.

ONEOK Price Performance

OKE opened at $96.95 on Friday. The firm has a market cap of $56.64 billion, a PE ratio of 20.28, a P/E/G ratio of 3.81 and a beta of 1.70. The stock has a 50-day moving average price of $104.51 and a 200-day moving average price of $97.06. ONEOK has a 1 year low of $67.05 and a 1 year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59.

ONEOK (NYSE:OKE) last issued its 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). The firm had revenue of $5.02 billion during the quarter, compared to the consensus estimate 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 company posted $0.99 EPS. Sell-side analysts predict that ONEOK will post 5.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Mizuho raised ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group raised their price target on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, November 26th. Finally, Truist Financial lifted their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.