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

ONEOK, Inc. (NYSE:OKE) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Stockholders 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 of this dividend is Friday, November 1st.

ONEOK has raised its dividend payment by an average of 0.7% annually over the last three years. ONEOK has a dividend payout ratio of 64.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Up 0.7 %

Shares of OKE opened at $96.21 on Thursday. The firm has a market cap of $56.19 billion, a P/E ratio of 20.96, a PEG ratio of 4.17 and a beta of 1.67. ONEOK has a 12 month low of $63.33 and a 12 month high of $98.43. The stock’s 50 day moving average is $93.37 and its two-hundred day moving average is $85.64. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. Analysts predict that ONEOK will post 5.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OKE shares. Bank of America started coverage on shares of ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Citigroup boosted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Truist Financial boosted their price objective on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, ONEOK presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insiders Place Their Bets

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.