ONEOK, Inc. (OKE) To Go Ex-Dividend on November 1st

ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Friday, November 1st will be paid a dividend of 0.99 per share by the utilities provider on Thursday, November 14th. This represents a $3.96 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Friday, November 1st.

ONEOK has raised its dividend payment by an average of 0.7% per year over the last three years. ONEOK has a payout ratio of 65.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ONEOK to earn $5.64 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 70.2%.

ONEOK Price Performance

Shares of NYSE:OKE opened at $96.44 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The stock’s fifty day simple moving average is $91.54 and its two-hundred day simple moving average is $84.53. ONEOK has a 1-year low of $63.33 and a 1-year high of $98.01. The stock has a market cap of $56.29 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 4.68 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the firm posted $1.04 EPS. As a group, analysts forecast that ONEOK will post 5.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKE. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Truist Financial raised their target price on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. Finally, Citigroup lifted their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

Insider Buying and Selling

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

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.