ONEOK, Inc. (NYSE:OKE) declared a quarterly dividend on Wednesday, January 17th, RTT News reports. Stockholders of record on Monday, January 29th will be paid a dividend of 0.77 per share by the utilities provider on Wednesday, February 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.18%. This is a positive change from ONEOK’s previous quarterly dividend of $0.75.

ONEOK has increased its dividend payment by an average of 8.6% per year over the last three years and has raised its dividend every year for the last 15 years. ONEOK has a payout ratio of 168.4% indicating that 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 $2.23 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 133.6%.

Shares of ONEOK (OKE) traded up $0.61 during mid-day trading on Wednesday, hitting $59.41. The stock had a trading volume of 4,201,705 shares, compared to its average volume of 3,708,820. ONEOK has a twelve month low of $47.14 and a twelve month high of $60.06. The stock has a market capitalization of $22,780.00, a PE ratio of 37.13, a P/E/G ratio of 2.22 and a beta of 1.26. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the business earned $0.43 EPS. analysts forecast that ONEOK will post 1.77 EPS for the current year.

In related news, Director Brian L. Derksen acquired 1,800 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

A number of research analysts have recently weighed in on OKE shares. UBS Group raised their price target on ONEOK from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research cut ONEOK from a “buy” rating to a “sell” rating in a research report on Tuesday, October 31st. Royal Bank of Canada raised ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and set a $64.00 price objective on shares of ONEOK in a research note on Tuesday. Finally, Barclays raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $58.00 to $67.00 in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. ONEOK has a consensus rating of “Buy” and a consensus price target of $59.93.

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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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