ONEOK, Inc. (OKE) Dividend Date & Dividend History for ONEOK: Stock Dividend Analysis

ONEOK, Inc. - OKE - Market Position

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Stock Ticker Home Page Asset Class Sector Industry Investment Strategy Dividend Frequency Geographic Focus
OKE ONEOK, Inc. Stock / Equity Energy Oil & Gas Midstream Growth Quarterly United States

ONEOK, Inc. (OKE) stands out as a compelling dividend stock for income-oriented investors seeking a reliable and growing income stream. Their midstream infrastructure network, transporting natural gas and natural gas liquids across the United States, provides predictable cash flows and a solid foundation for dividend payouts.

ONEOK, Inc. - OKE - Current Market Data

ONEOK, Inc. - OKE - Business Overview

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Section Information


OKE is a leading North American midstream energy company specializing in owning, operating, and developing natural gas and natural gas liquids (NGL) infrastructure. They primarily transport, gather, and process natural gas and NGLs across long-distance pipelines, connecting producers with consumers. OKE boasts a significant market share in the midstream sector, particularly in the natural gas gathering and processing segments. Their mission emphasizes "creating enduring value for our shareholders" with core values of integrity, innovation, collaboration, accountability, and social responsibility.

Business Model:

OKE generates revenue primarily through three main channels:
  • Transportation fees: Charged for transporting natural gas and NGLs through their extensive pipeline network.
  • Processing fees: Earned for processing NGLs into various marketable products like propane, butane, and ethane.
  • Storage fees: Derived from storing natural gas and NGLs in their cavern storage facilities.
Their value chain involves partnerships with energy producers, refiners, and distributors who rely on OKE's infrastructure to transport and process their products. Significant revenue streams come from natural gas gathering and processing, NGL transportation and storage, and refined products transportation.

Industry Competition:

OKE faces competition from other midstream giants like Kinder Morgan and Enbridge, as well as alternative transportation methods like rail and trucks.

Competitive Advantages:

OKE boasts several key competitive advantages:
  • Extensive Pipeline Network: Owns and operates a vast network of pipelines, providing extensive reach and market access.
  • Diversified Portfolio: Operates in various midstream segments, mitigating risks associated with any single market.
  • Strong Financial Position: Healthy balance sheet and low debt-to-equity ratio allow for strategic acquisitions and investments.
  • Experienced Management Team: Proven track record of operational excellence and shareholder value creation.
  • Reliable Dividend Payout: Consistent and growing dividend history, attractive for income-oriented investors.

Management Team:

OKE's executive team possesses extensive experience in the energy and infrastructure sectors:
  • Terry Liang, CEO: Over 30 years of experience in the energy industry, with a proven track record of leadership and growth.
  • David Kyle, CFO: Over 25 years of experience in finance and accounting, with expertise in capital allocation and risk management.
The team has a strong reputation for operational efficiency and strategic decision-making.

Financial Performance:

OKE has demonstrated consistent financial performance:
  • 2022 Revenue: $11.5 billion.
  • 2022 Net Income: $1.4 billion.
  • 10-year annualized dividend growth rate: 16%.
  • Healthy balance sheet: Low debt-to-equity ratio of 0.50.

Investment Thesis:

OKE presents a compelling investment opportunity for:
  • Income-seeking investors: High and growing dividend yield offers a reliable income stream.
  • Moderate growth seekers: Potential for future growth through strategic expansion and acquisitions.
  • Value investors: Trading at potentially undervalued price-to-earnings ratio compared to peers.


OKE stands out as a strong midstream player with a diversified portfolio, reliable dividend payouts, and a proven management team. While risks like energy price fluctuations and industry competition exist, OKE's strengths and attractive dividend yield make it a valuable option for income-oriented investors with a moderate risk tolerance.

OKE Dividend Analysis

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Section Details

OKE Dividend Data

ONEOK, Inc. (OKE) has an annual dividend of $3.96 per share. The dividend is paid every three months. The last ex-dividend date was on February 14, 2024.

OKE Dividend Yield

The forward yield of OKE is 5.13%. This means that for every $100 invested in the company's stock, investors would receive $5.13 in dividends per year.

OKE Dividend History

ONEOK has a history of paying dividends, with the most recent payment being on January 29, 2024.

OKE Dividend Payout & Dividend Payout Ratio

ONEOK's dividend payout ratio is 71.35% based on the trailing year of earnings. This means that 71.35% of the company's earnings are paid out as dividends.

OKE Dividend Stability & Growth

ONEOK's dividends per share have been stable in the past 10 years. Since 2011, the dividend has gone from $1.04 to $3.74. This works out to be a compound annual growth rate (CAGR) of approximately 14% a year over that time.

OKE Chart

OKE Comparative Analysis

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ONEOK (OKE) Suncor Energy (SU) Williams Companies (WMB)

Industry Focus

Midstream energy infrastructure Oil and gas Natural Gas Infrastructure

Current Yield

5.14% 4.60% 5.24%

Price-to-Earnings Ratio (P/E)

14.0 7.6746 14.08

Investment Strategy

Primarily fee-based earnings with strategic gathering, processing, fractionation, and storage assets Deliver industry-leading performance in safety, operational excellence, and reliability. Achieve a cost structure that provides financial resiliency in a $45 US WTI business environment. Decarbonize base business and capture new opportunities, achieving net zero GHG emissions by 2050. Deliver reliable earnings, durable cash flow, and a healthy balance sheet. Disciplined, returns-based approach to capital allocation. Invest in high-return growth projects, emissions reduction projects, and renewables.

Energy Stocks



Technical Analysis

Additional Considerations

When considering the attractiveness of ONEOK Inc.'s (OKE) dividend, it's important to look at the historical dividend data for ONEOK. The company has a history of consistent dividend payouts, with a notable growth rate. However, the dividend date and the payout ratio are two factors that could impact the income generated from this investment. The payout ratio, in particular, is a key indicator of the sustainability of the dividend. A high payout ratio could limit the company's ability to cover the dividend in the future, especially if earnings per share decline. Furthermore, ONEOK's dividends are distributed on a quarterly schedule, and the last ex-dividend date is an important date on the dividend calendar for shareholders.

The performance of ONEOK's common dividends in your portfolio should also be analyzed in relation to other assets, such as ETFs. The trend of ONEOK's dividend can provide valuable insights into the company's financial health and its ability to generate income for shareholders. Lastly, it's crucial to consider the risks associated with ONEOK's core business. As a midstream energy company, ONEOK operates in the logistics and pipeline industry. This sector can be influenced by various factors, including fluctuations in energy prices and regulatory changes. Therefore, while ONEOK’s dividend history and growth may be attractive, these additional considerations should not be overlooked.