ONEOK, Inc. Announces Quarterly Dividend of $0.99 (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Investors of record on Friday, November 1st will be given a dividend of 0.99 per share by the utilities provider on Thursday, November 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, November 1st.

ONEOK has raised its dividend by an average of 0.7% annually over the last three years. ONEOK has a dividend payout ratio of 64.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ONEOK to earn $5.67 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 69.8%.

ONEOK Stock Performance

ONEOK stock opened at $96.21 on Thursday. The company’s 50-day moving average price is $93.37 and its 200-day moving average price is $85.64. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The company has a market cap of $56.19 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67. ONEOK has a twelve month low of $63.33 and a twelve month high of $98.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings data 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 company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts forecast that ONEOK will post 5.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OKE shares. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Barclays upped their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Truist Financial raised their target price on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $96.00.

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.