ONEOK, Inc. (NYSE:OKE – Get Free Report) declared a quarterly dividend on Wednesday, July 17th, RTT News reports. Stockholders of record on Thursday, August 1st will be paid a dividend of 0.99 per share by the utilities provider on Wednesday, August 14th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Thursday, August 1st.
ONEOK has raised its dividend by an average of 0.7% annually over the last three years. ONEOK has a payout ratio of 71.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ONEOK to earn $5.49 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 72.1%.
ONEOK Stock Performance
Shares of ONEOK stock opened at $82.21 on Tuesday. The business’s fifty day simple moving average is $81.38 and its 200 day simple moving average is $77.78. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK has a 12 month low of $60.58 and a 12 month high of $86.20. The firm has a market capitalization of $47.98 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 4.33 and a beta of 1.65.
Analysts Set New Price Targets
Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 26th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Stifel Nicolaus increased their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Morgan Stanley lifted their price objective on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $84.83.
Read Our Latest Research Report on ONEOK
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.
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