ONEOK Inc. (OKE) for High Yield - May 18
Posted: Wed May 18, 2022 1:05 pm
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.
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.