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

ONEOK, Inc. (NYSE:OKE) 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.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to analyst estimates of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period last year, the firm posted $2.34 EPS. As a group, analysts anticipate that ONEOK will post 5.06 EPS for the current year.

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.

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.