ONEOK, Inc. (NYSE:OKE) Plans Quarterly Dividend of $1.03

Key Points

• ONEOK, Inc. has declared a quarterly dividend of $1.03 per share, with an annualized yield of 6.0%, payable on November 14th to stockholders of record by November 3rd.
• The company reported a net margin of 11.06% and earnings per share of $1.34 for its most recent quarter, surpassing analyst estimates.
• Analysts have a consensus price target of $98.69 for ONEOK stock, with ratings ranging from "Strong Buy" to "Hold".

ONEOK, Inc. (NYSE:OKE - Get Free Report) declared a quarterly dividend on Wednesday, October 15th. Stockholders of record on Monday, November 3rd will be paid a dividend of 1.03 per share by the utilities provider on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Monday, November 3rd.

ONEOK has a payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 1.0%

Shares of NYSE OKE opened at $68.89 on Thursday. The company's 50 day simple moving average is $73.21 and its 200 day simple moving average is $79.46. ONEOK has a fifty-two week low of $68.25 and a fifty-two week high of $118.07. The firm has a market capitalization of $43.38 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.70 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.46.

ONEOK (NYSE:OKE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. ONEOK had a net margin of 11.06% and a return on equity of 14.90%. The business had revenue of $8.21 billion for the quarter, compared to analyst estimates of $7.20 billion. During the same period in the prior year, the business posted $1.33 earnings per share. ONEOK has set its FY 2025 guidance at 5.370-5.370 EPS. On average, analysts predict that ONEOK will post 5.07 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on OKE shares. Scotiabank set a $92.00 target price on shares of ONEOK and gave the stock a "sector outperform" rating in a report on Tuesday, July 15th. Raymond James Financial reiterated an "outperform" rating on shares of ONEOK in a report on Friday, August 1st. Morgan Stanley cut their target price on shares of ONEOK from $122.00 to $110.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Mizuho cut their target price on shares of ONEOK from $87.00 to $82.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Finally, TD Cowen initiated coverage on shares of ONEOK in a report on Monday, July 7th. They issued a "hold" rating and a $91.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.69.

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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