ONEOK, Inc. (OKE) to Issue Quarterly Dividend of $1.03 on August 14th

ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Friday, August 1st will be given a dividend of 1.03 per share by the utilities provider on Thursday, August 14th. This represents a $4.12 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Friday, August 1st.

ONEOK has a payout ratio of 67.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ONEOK to earn $5.95 per share next year, which means the company should continue to be able to cover its $4.12 annual dividend with an expected future payout ratio of 69.2%.

ONEOK Stock Performance

OKE stock opened at $81.24 on Friday. ONEOK has a 12-month low of $75.48 and a 12-month high of $118.07. The company has a current ratio of 0.67, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. The stock’s 50 day simple moving average is $81.94 and its 200 day simple moving average is $90.33. The firm has a market cap of $51.15 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.53 and a beta of 0.93.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.24). ONEOK had a net margin of 12.15% and a return on equity of 15.58%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same period last year, the business posted $1.09 earnings per share. As a group, equities research analysts predict that ONEOK will post 5.07 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup cut their price objective on ONEOK from $110.00 to $102.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. TD Cowen began coverage on ONEOK in a research note on Monday, July 7th. They issued a “hold” rating and a $91.00 price target on the stock. Scotiabank set a $92.00 price objective on ONEOK and gave the stock a “sector outperform” rating in a research note on Tuesday. Wells Fargo & Company dropped their target price on ONEOK from $102.00 to $93.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Finally, Barclays dropped their price objective on ONEOK from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, June 3rd. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, ONEOK has an average rating of “Moderate Buy” and a consensus price target of $103.07.

Institutional Trading of ONEOK

Hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new position in ONEOK during the 1st quarter worth $216,000. Empowered Funds LLC boosted its holdings in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider’s stock valued at $1,782,000 after acquiring an additional 137 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider’s stock valued at $1,534,000 after acquiring an additional 8,834 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

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.