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. Investors 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 annualized dividend and a dividend yield of 3.88%. This is an increase from ONEOK’s previous quarterly dividend of $0.99.

ONEOK has raised its dividend payment by an average of 1.9% per year over the last three years. ONEOK has a dividend payout ratio of 59.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of OKE stock opened at $106.28 on Thursday. The company has a market capitalization of $62.09 billion, a price-to-earnings ratio of 22.23, a PEG ratio of 4.16 and a beta of 1.70. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a 50-day simple moving average of $106.17 and a 200 day simple moving average of $96.28. ONEOK has a 52 week low of $67.05 and a 52 week high of $118.07.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). The company had revenue of $5.02 billion for 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 period in the previous year, the firm posted $0.99 EPS. On average, sell-side analysts predict that ONEOK will post 5.1 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Truist Financial boosted their price objective on shares of ONEOK from $99.00 to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research report on Wednesday, December 18th. Mizuho upgraded shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. UBS Group boosted their target price on shares of ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Royal Bank of Canada boosted their target price 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average 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.