ONEOK, Inc. (OKE) To Go Ex-Dividend on August 1st

ONEOK, Inc. (NYSE:OKE) 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.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. The company had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company posted $2.34 earnings per share. As a group, equities research analysts forecast that ONEOK will post 5.06 earnings per share for the current fiscal year.

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.

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.