ONEOK, Inc. (NYSE:OKE – Get Rating) announced a quarterly dividend on Thursday, April 21st, RTT News reports. Stockholders of record on Monday, May 2nd will be paid a dividend of 0.935 per share by the utilities provider on Monday, May 16th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 5.23%.
ONEOK has a dividend payout ratio of 88.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect ONEOK to earn $4.04 per share next year, which means the company should continue to be able to cover its $3.74 annual dividend with an expected future payout ratio of 92.6%.
Shares of OKE stock traded down $0.70 during trading on Thursday, reaching $71.47. The company’s stock had a trading volume of 3,749,466 shares, compared to its average volume of 2,857,232. The business has a fifty day moving average price of $67.59 and a 200-day moving average price of $63.83. The company has a quick ratio of 0.56, a current ratio of 0.75 and a debt-to-equity ratio of 2.12. The company has a market cap of $31.92 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 2.23 and a beta of 1.80. ONEOK has a one year low of $48.51 and a one year high of $75.07.
ONEOK (NYSE:OKE – Get Rating) last announced its quarterly earnings data on Monday, February 28th. The utilities provider reported $0.85 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.03). The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $4.34 billion. ONEOK had a return on equity of 25.14% and a net margin of 9.07%. During the same period in the prior year, the firm earned $0.69 EPS. Research analysts anticipate that ONEOK will post 3.79 EPS for the current year.
In other news, Director Mark W. Helderman sold 30,000 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $67.27, for a total value of $2,018,100.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in OKE. Barclays PLC grew its stake in shares of ONEOK by 96.5% in the fourth quarter. Barclays PLC now owns 1,646,508 shares of the utilities provider’s stock valued at $96,750,000 after acquiring an additional 808,702 shares in the last quarter. Allstate Corp grew its stake in shares of ONEOK by 293.6% in the fourth quarter. Allstate Corp now owns 47,213 shares of the utilities provider’s stock valued at $2,774,000 after acquiring an additional 35,217 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of ONEOK by 3.3% in the fourth quarter. California State Teachers Retirement System now owns 825,603 shares of the utilities provider’s stock valued at $48,512,000 after acquiring an additional 26,416 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of ONEOK by 402.8% in the fourth quarter. NewEdge Advisors LLC now owns 26,322 shares of the utilities provider’s stock valued at $1,547,000 after acquiring an additional 21,087 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of ONEOK by 0.4% in the fourth quarter. Parametric Portfolio Associates LLC now owns 2,539,501 shares of the utilities provider’s stock valued at $149,221,000 after acquiring an additional 10,720 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.
A number of analysts have recently commented on OKE shares. StockNews.com started coverage on shares of ONEOK in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Truist Financial upped their price target on shares of ONEOK from $72.00 to $78.00 in a research report on Thursday, March 3rd. Credit Suisse Group upped their price target on shares of ONEOK from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 15th. Wolfe Research lowered shares of ONEOK from a “peer perform” rating to an “underperform” rating in a research report on Monday, January 10th. Finally, Mizuho upped their price target on shares of ONEOK from $61.00 to $63.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, ONEOK has a consensus rating of “Hold” and a consensus price target of $66.00.
About ONEOK (Get Rating)
ONEOK, Inc, together with its subsidiaries, engages in gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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