ONEOK, Inc. (NYSE:OKE) Plans Quarterly Dividend of $1.07

Key Points

• ONEOK announced a quarterly dividend of $1.07 per share, payable on August 14 to stockholders of record as of August 3. The dividend implies an annualized yield of about 4.7%.
• The company has raised its dividend for 3 straight years, and its payout ratio of 69.6% suggests the dividend is covered by earnings. Analysts expect continued coverage based on projected earnings next year.
• ONEOK’s stock was trading down 0.9% around $91.04 as the article noted, with the company carrying a market value of about $57.4 billion and strong institutional ownership near 69%.

ONEOK, Inc. (NYSE:OKE - Get Free Report) announced a quarterly dividend on Wednesday, July 15th. Stockholders of record on Monday, August 3rd will be paid a dividend of 1.07 per share by the utilities provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, August 3rd.

ONEOK has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 3 years. ONEOK has a payout ratio of 69.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ONEOK to earn $6.07 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 70.5%.

ONEOK Trading Down 0.9%

Shares of OKE opened at $91.04 on Thursday. The company has a market capitalization of $57.37 billion, a P/E ratio of 16.23, a P/E/G ratio of 6.87 and a beta of 0.73. ONEOK has a one year low of $64.02 and a one year high of $96.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.56 and a current ratio of 0.71. The stock has a 50-day moving average price of $88.87 and a 200 day moving average price of $85.10.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Tuesday, April 28th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). ONEOK had a net margin of 10.03% and a return on equity of 16.06%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same period in the previous year, the company earned $1.04 earnings per share. ONEOK has set its FY 2026 guidance at 5.530-5.530 EPS. Sell-side analysts forecast that ONEOK will post 5.72 EPS for the current fiscal year.

Institutional Trading of ONEOK

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of ONEOK by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 77,603,334 shares of the utilities provider's stock worth $5,703,845,000 after acquiring an additional 380,744 shares in the last quarter. State Street Corp raised its position in shares of ONEOK by 1.7% during the fourth quarter. State Street Corp now owns 38,450,591 shares of the utilities provider's stock worth $2,826,118,000 after purchasing an additional 648,647 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 22,634,512 shares of the utilities provider's stock valued at $1,663,637,000 after purchasing an additional 599,248 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of ONEOK by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 16,596,172 shares of the utilities provider's stock valued at $1,215,107,000 after purchasing an additional 518,746 shares during the period. Finally, First Eagle Investment Management LLC boosted its position in shares of ONEOK by 46.3% in the 4th quarter. First Eagle Investment Management LLC now owns 11,365,304 shares of the utilities provider's stock valued at $835,350,000 after purchasing an additional 3,596,089 shares during the period. 69.13% of the stock is currently owned by institutional investors.

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.

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