ONEOK Inc. (OKE) for High Yield - May 18

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

ONEOK Inc. (OKE) for High Yield - May 18

Post by dan_s »

I have updated my forecast/valuation model for OKE, one of the rock-solid midstream companies in our High Yield Income Portfolio that will benefit from rising natural gas and NGL prices.

OKE was trading at $64.38 at the time of this post.
OKE's recent dividend was $0.935/share for annualized yield of $3.74 or 5.8%.
DCF coverage is more than enough to raise dividends, which I expect them to do in 2H 2022

My valuation is $73.50, which compares to TipRanks' price target of $72.08.

ONEOK is a very old and very conservative company. Low risk with increasing dividends likely.

It is a C-Corp.
Dan Steffens
Energy Prospectus Group
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