ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, July 26th, RTT News reports. Stockholders of record on Monday, August 7th will be paid a dividend of 0.13 per share by the utilities provider on Monday, August 14th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%.

ONEOK has increased its dividend payment by an average of 18.5% annually over the last three years and has raised its dividend every year for the last 14 years. ONEOK has a dividend payout ratio of 123.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect ONEOK to earn $2.20 per share next year, which means the company may not be able to cover its $2.46 annual dividend with an expected future payout ratio of 111.8%.

Shares of ONEOK (OKE) traded down 0.34% on Wednesday, hitting $55.59. The stock had a trading volume of 2,472,593 shares. The firm has a market cap of $11.72 billion, a price-to-earnings ratio of 33.19 and a beta of 1.30. The stock has a 50 day moving average of $51.04 and a 200 day moving average of $53.18. ONEOK has a 12-month low of $42.79 and a 12-month high of $59.47.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.82 billion. Equities analysts predict that ONEOK will post $2.17 earnings per share for the current fiscal year.

In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the sale, the director now owns 18,125 shares of the company’s stock, valued at approximately $912,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.90% of the company’s stock.

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OKE has been the topic of several research reports. Guggenheim initiated coverage on ONEOK in a report on Monday, April 17th. They set a “buy” rating and a $62.00 price objective on the stock. UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $59.00 in a report on Wednesday, June 14th. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, June 21st. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a report on Wednesday, July 5th. Finally, Jefferies Group LLC set a $51.00 price objective on ONEOK and gave the stock a “hold” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.31.

About ONEOK

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

Dividend History for ONEOK (NYSE:OKE)

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