ONEOK, Inc. (NYSE:OKE – Get Free Report) declared a quarterly dividend on Wednesday, July 17th, RTT News reports. Shareholders of record on Thursday, August 1st will be given a dividend of 0.99 per share by the utilities provider on Wednesday, August 14th. This represents a $3.96 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Thursday, August 1st.
ONEOK has raised its dividend by an average of 0.7% per year over the last three years. ONEOK has a payout ratio of 71.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ONEOK to earn $5.49 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 72.1%.
ONEOK Stock Performance
OKE opened at $82.21 on Tuesday. The stock has a 50-day moving average of $81.38 and a 200-day moving average of $77.78. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. ONEOK has a 52-week low of $60.58 and a 52-week high of $86.20. The company has a market cap of $47.98 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 4.33 and a beta of 1.65.
Analyst Ratings Changes
OKE has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of ONEOK from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, June 10th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Mizuho raised their target price on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.83.
View Our Latest Research Report on ONEOK
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.
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