ONEOK, Inc. (NYSE:OKE) Increases Dividend to $1.07 Per Share

ONEOK, Inc. (NYSE:OKE) announced a quarterly dividend on Wednesday, January 21st. Shareholders of record on Monday, February 2nd will be paid a dividend of 1.07 per share by the utilities provider on Friday, February 13th. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Monday, February 2nd. This is a 3.9% increase from ONEOK’s previous quarterly dividend of $1.03.

ONEOK has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. ONEOK has a dividend 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 Up 2.4%

OKE stock opened at $75.83 on Thursday. ONEOK has a twelve month low of $64.02 and a twelve month high of $110.62. The business has a 50 day moving average of $72.79 and a 200 day moving average of $73.53. The company has a quick ratio of 0.75, a current ratio of 0.90 and a debt-to-equity ratio of 1.44. The firm has a market cap of $47.72 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 4.16 and a beta of 0.94.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. ONEOK had a net margin of 10.58% and a return on equity of 15.12%. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. ONEOK has set its FY 2025 guidance at 4.970-5.770 EPS. On average, research analysts forecast that ONEOK will post 5.07 EPS for the current fiscal year.

Insider Transactions at ONEOK

In other ONEOK news, Director Brian L. Derksen purchased 2,500 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $66.00 per share, for a total transaction of $165,000.00. Following the acquisition, the director owned 21,200 shares of the company’s stock, valued at $1,399,200. This trade represents a 13.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On ONEOK

Several hedge funds have recently bought and sold shares of the business. Winnow Wealth LLC acquired a new position in shares of ONEOK during the third quarter valued at about $28,000. City Holding Co. bought a new position in ONEOK during the third quarter valued at about $28,000. Financial Consulate Inc. acquired a new position in ONEOK in the 3rd quarter valued at approximately $29,000. Global Wealth Strategies & Associates bought a new stake in shares of ONEOK in the 3rd quarter worth approximately $29,000. Finally, SRH Advisors LLC grew its holdings in shares of ONEOK by 122.3% during the 4th quarter. SRH Advisors LLC now owns 438 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 241 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

About ONEOK

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.