ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Shareholders of record on Monday, November 6th will be given a dividend of 0.745 per share by the utilities provider on Tuesday, November 14th. This represents a $2.98 dividend on an annualized basis and a yield of 5.55%.

ONEOK has raised its dividend by an average of 18.5% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. ONEOK has a dividend payout ratio of 180.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect ONEOK to earn $2.10 per share next year, which means the company may not be able to cover its $2.98 annual dividend with an expected future payout ratio of 141.9%.

ONEOK (NYSE:OKE) opened at 53.60 on Thursday. The firm’s 50-day moving average is $55.93 and its 200-day moving average is $53.18. ONEOK has a 52-week low of $45.41 and a 52-week high of $59.47. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of 33.58 and a beta of 1.30.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.12). The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. ONEOK had a net margin of 3.26% and a return on equity of 8.62%. During the same quarter in the prior year, the business earned $0.40 EPS. Analysts forecast that ONEOK will post $1.72 EPS for the current fiscal year.

A number of analysts have commented on OKE shares. Barclays PLC started coverage on shares of ONEOK in a research note on Tuesday, September 5th. They issued an “equal weight” rating and a $58.00 price target for the company. Morgan Stanley cut shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price target for the company. in a research note on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $52.00 price target (up previously from $51.00) on shares of ONEOK in a research note on Friday, September 1st. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $58.00 price target on shares of ONEOK in a research note on Monday, September 11th. Finally, BidaskClub upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. ONEOK has a consensus rating of “Buy” and a consensus price target of $58.86.

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ONEOK Company Profile

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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