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

ONEOK, Inc. (NYSE:OKE) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.88%. This is a boost 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% meaning 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 Price Performance

Shares of OKE stock traded down $3.57 during midday trading on Wednesday, reaching $106.28. 3,191,219 shares of the company were exchanged, compared to its average volume of 2,865,392. ONEOK has a 12 month low of $67.05 and a 12 month high of $118.07. The company has a market cap of $62.09 billion, a P/E ratio of 22.23, a PEG ratio of 4.66 and a beta of 1.70. The company’s 50 day moving average price is $106.21 and its two-hundred day moving average price is $96.21. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. 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 previous year, the firm posted $0.99 EPS. On average, sell-side analysts expect that ONEOK will post 5.1 earnings per share for the current year.

Analyst Ratings Changes

OKE has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. UBS Group boosted their price target on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Wells Fargo & Company cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price on the stock. in a research note on Wednesday, December 18th. Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.92.

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.