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

ONEOK, Inc. (NYSE:OKE - Get Free Report) announced a quarterly dividend on Wednesday, July 16th, RTT News reports. Shareholders of record on Friday, August 1st will be given a dividend of 1.03 per share by the utilities provider on Thursday, August 14th. This represents a $4.12 annualized dividend and a yield of 5.07%.

ONEOK has a payout ratio of 67.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 2.6%

NYSE OKE traded up $2.07 during trading on Thursday, hitting $81.24. The stock had a trading volume of 3,348,954 shares, compared to its average volume of 3,486,369. The company has a market capitalization of $51.15 billion, a PE ratio of 15.87, a P/E/G ratio of 1.52 and a beta of 0.93. The company's 50-day moving average price is $81.96 and its two-hundred day moving average price is $90.46. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.52 and a current ratio of 0.67. ONEOK has a 12 month low of $75.48 and a 12 month high of $118.07.

ONEOK (NYSE:OKE - Get Free Report) last released its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24). The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a net margin of 12.15% and a return on equity of 15.58%. During the same quarter in the previous year, the firm posted $1.09 EPS. As a group, sell-side analysts forecast that ONEOK will post 5.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKE. Brighton Jones LLC lifted its position in shares of ONEOK by 137.1% during the 4th quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock valued at $1,534,000 after acquiring an additional 8,834 shares during the period. Empowered Funds LLC lifted its position in shares of ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock valued at $1,782,000 after acquiring an additional 137 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of ONEOK during the 1st quarter valued at $216,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKE has been the topic of several recent analyst reports. Citigroup lowered their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on ONEOK from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. boosted their price target on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. TD Cowen assumed coverage on ONEOK in a report on Monday, July 7th. They set a "hold" rating and a $91.00 target price on the stock. Finally, Morgan Stanley boosted their target price on ONEOK from $111.00 to $133.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.07.

ONEOK Company Profile

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.