ONEOK, Inc. (NYSE:OKE) Announces Dividend Increase – $1.03 Per Share

ONEOK, Inc. (NYSE:OKE) announced a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Monday, February 3rd will be paid a dividend of 1.03 per share by the utilities provider on Friday, February 14th. This represents a $4.12 annualized dividend and a yield of 3.88%. This is an increase from ONEOK’s previous quarterly dividend of $0.99.

ONEOK has increased its dividend by an average of 1.9% annually over the last three years. ONEOK has a dividend payout ratio of 59.7% meaning its dividend is sufficiently covered by earnings. Equities 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 NYSE:OKE opened at $106.28 on Thursday. The company’s fifty day moving average is $106.17 and its two-hundred day moving average is $96.28. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. 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 price-to-earnings-growth ratio of 4.16 and a beta of 1.70.

ONEOK (NYSE:OKE) last announced its earnings results 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 net margin of 14.05% and a return on equity of 16.84%. The firm had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts expect that ONEOK will post 5.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on OKE shares. Royal Bank of Canada upped their price target on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Barclays upped their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. US Capital Advisors upgraded shares of ONEOK from a “hold” rating to a “moderate buy” rating in a report on Tuesday, November 26th. Finally, Mizuho upgraded shares of ONEOK to a “hold” rating in a report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.92.

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.