Oneok (OKE) Declares $0.96 Dividend
Oneok said on April 20, 2023 that its board of directors declared a regular quarterly dividend of $0.96 per share ($3.82 annualized). Previously, the company paid $0.96 per share.
Shares must be purchased before the ex-div date of April 28, 2023 to qualify for the dividend. Shareholders of record as of May 1, 2023 will receive the payment on May 15, 2023.
At the current share price of $66.30 / share, the stock's dividend yield is 5.76%. Looking back five years and taking a sample every week, the average dividend yield has been 6.98%, the lowest has been 4.46%, and the highest has been 19.08%. The standard deviation of yields is 2.85 (n=237).
The current dividend yield is 0.43 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.99. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.02%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 1783 funds or institutions reporting positions in Oneok. This is an increase of 54 owner(s) or 3.12% in the last quarter. Average portfolio weight of all funds dedicated to OKE is 0.40%, an increase of 12.89%. Total shares owned by institutions increased in the last three months by 2.59% to 343,318K shares. 
The put/call ratio of OKE is 0.51, indicating a bullish outlook.
Analyst Price Forecast Suggests 11.37% Upside
As of April 6, 2023, the average one-year price target for Oneok is $73.84. The forecasts range from a low of $61.61 to a high of $85.05. The average price target represents an increase of 11.37% from its latest reported closing price of $66.30.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Oneok is $24,159MM, an increase of 7.92%. The projected annual non-GAAP EPS is $4.46.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,585K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 13,322K shares, representing an increase of 1.93%. The firm increased its portfolio allocation in OKE by 20.75% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 12,938K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 13,055K shares, representing a decrease of 0.91%. The firm increased its portfolio allocation in OKE by 4.58% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 10,404K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 10,314K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in OKE by 18.80% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 10,332K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 10,130K shares, representing an increase of 1.96%. The firm increased its portfolio allocation in OKE by 20.48% over the last quarter.
Geode Capital Management holds 9,598K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 9,415K shares, representing an increase of 1.91%. The firm increased its portfolio allocation in OKE by 20.86% over the last quarter.
Oneok Background Information
(This description is provided by the company.)
ONEOK, Inc. (pronounced ONE-OAK) is a leading midstream service provider and owner of one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Rocky Mountain, Mid-Continent and Permian regions with key market centers and an extensive network of natural gas gathering, processing, storage and transportation assets.
This story originally appeared on Fintel.