Benzinga - by Avi Kapoor, Benzinga Staff Writer.
ONEOK, Inc. (NYSE: OKE) is scheduled to release earnings results for its fourth quarter, after the closing bell on Feb. 26, 2024.
Analysts expect the company to report quarterly earnings at $1.20 per share, up from year-ago earnings of $1.08 per share. The company is projected to post revenue of $5.89 billion for the latest quarter, compared to $5.03 billion in the year-earlier quarter, according to data from Benzinga Pro.
The company recently raised its quarterly dividend per share by 3.7% to 99 cents, which resulted in an annualized dividend per share of $3.96. OKE is targeting an annual dividend growth rate of 3% to 4% in the future.
The company’s board also authorized a $2 billion share repurchase program and expects it to be completed in the next four years.
With the recent buzz around ONEOK, some investors may be eyeing potential gains from the company’s dividends. As of now, ONEOK has a dividend yield of 5.37%, which is a quarterly dividend amount of 99 cents a share ($3.96 a year).
To figure out how to earn $500 monthly from ONEOK dividends, we start with the yearly target of $6,000 ($500 x 12 months).
Next, we take this amount and divide it by ONEOK’s $3.96 dividend: $6,000 / $3.96 = 1,515 shares
So, an investor would need to own approximately $111,686 worth of ONEOK, or 1,515 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $3.96 = 303 shares, or $22,337 to generate a monthly dividend income of $100.
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Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
OKE Price Action: Shares of ONEOK gained 0.5% to close at $73.72 on Thursday.
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Latest Ratings for OKE
| Mar 2022 | Wells Fargo | Maintains | Equal-Weight | |
| Mar 2022 | Mizuho | Maintains | Neutral | |
| Jan 2022 | B of A Securities | Maintains | Neutral |
View the Latest Analyst Ratings
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