ONEOK Inc. (OKE) for High Yield - Sept 30

[dan_s]

I just finished my review of the updated profile for ONEOK. This one is for those of you that want solid dividends and safety of principle.
OKE is trading today at around $58.25.
For seven quarters the dividend has been $0.935/quarter for annualized yield of ~6.4%.
They are generating more than enough DCF coverage to increase their dividends soon.

This is a super conservative midstream company with a very strong balance sheet that allowed them to maintain their dividends throughout the pandemic.

Their business segments are tied to natural gas and NGLs. Demand for those products is BOOMING and ONEOK is on pace to one of the best years in their long history. The profile will be posted to the EPG website this evening and emailed out in the morning.

9/23/2021
Bernstein analyst Jean Ann Salisbury upgraded Oneok to Outperform from Market Perform with a $66 price target, representing 20% upside. Recent data from the Bakken suggests gas to oil ratio is rising much faster than modeled, and this is not due to mix-shift or high grading, Salisbury tells investors in a research note. The analyst says Oneok is "especially levered to this if one believes that ethane rejection is close maxed out on other outlets."