ONEOK, Inc. Plans Quarterly Dividend of $1.07 (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Monday, May 4th will be given a dividend of 1.07 per share by the utilities provider on Friday, May 15th. This represents a c) annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, May 4th.

ONEOK has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. ONEOK has a dividend payout ratio of 69.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect ONEOK to earn $6.19 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 69.1%.

ONEOK Trading Up 1.4%

NYSE:OKE opened at $87.29 on Friday. The company has a market cap of $54.99 billion, a P/E ratio of 16.10, a P/E/G ratio of 6.38 and a beta of 0.84. The stock’s fifty day moving average price is $86.80 and its two-hundred day moving average price is $77.67. ONEOK has a 1 year low of $64.02 and a 1 year high of $95.30. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.71 and a quick ratio of 0.56.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 23rd. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $8.77 billion. ONEOK had a return on equity of 15.29% and a net margin of 10.09%.During the same quarter in the prior year, the business posted $1.57 earnings per share. ONEOK has set its FY 2026 guidance at 5.040-5.870 EPS. As a group, analysts expect that ONEOK will post 5.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company upgraded ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $81.00 to $100.00 in a research report on Wednesday, March 25th. Mizuho set a $89.00 target price on ONEOK in a research report on Monday, February 23rd. Truist Financial assumed coverage on ONEOK in a research report on Tuesday, March 24th. They set a “hold” rating and a $91.00 target price on the stock. UBS Group dropped their target price on ONEOK from $114.00 to $103.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group increased their target price on ONEOK from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, April 8th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.69.

ONEOK Company Profile

ONEOK, Inc (NYSE: OKE) is a publicly traded midstream energy company headquartered in Tulsa, Oklahoma. The company owns and operates a portfolio of natural gas and natural gas liquids (NGL) pipelines, processing facilities, fractionators and storage and terminal assets. Its operations are focused on gathering, processing, transporting, fractionating and marketing NGLs and interstate natural gas, providing critical infrastructure that connects hydrocarbon production to refineries, petrochemical plants and other end markets.

ONEOK’s asset base includes pipeline systems and processing plants that move and condition natural gas, along with infrastructure for the transportation, storage and fractionation of NGLs such as ethane, propane and butane.