ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, July 24th, RTT News reports. Investors of record on Tuesday, August 6th will be given a dividend of 0.89 per share by the utilities provider on Wednesday, August 14th. This represents a $3.56 annualized dividend and a yield of 5.01%. The ex-dividend date is Monday, August 5th. This is a positive change from ONEOK’s previous quarterly dividend of $0.87.
ONEOK has increased its dividend by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 16 consecutive years. ONEOK has a payout ratio of 131.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ONEOK to earn $3.69 per share next year, which means the company should continue to be able to cover its $3.56 annual dividend with an expected future payout ratio of 96.5%.
OKE stock opened at $70.99 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. The firm has a market cap of $29.32 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 2.05 and a beta of 1.17. The firm has a 50-day moving average of $68.70. ONEOK has a 1 year low of $50.26 and a 1 year high of $72.38.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. ONEOK’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. On average, equities analysts anticipate that ONEOK will post 3.07 earnings per share for the current fiscal year.
OKE has been the topic of a number of analyst reports. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Raymond James lowered ONEOK from a “strong-buy” rating to an “outperform” rating in a research report on Tuesday, April 16th. Mitsubishi UFJ Financial Group increased their price target on ONEOK to $77.00 and gave the company a “neutral” rating in a research report on Thursday. Seaport Global Securities lowered ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 price target on the stock. in a research report on Monday, April 22nd. Finally, Citigroup increased their price target on ONEOK from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. ONEOK presently has an average rating of “Hold” and an average target price of $71.62.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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