ONEOK closed the Merger with Magellan Midstream Partners on September 25, 2023.
Q4 operating cash flow should be over $1.1 Billion, with free cash flow over $600 million.
They should be generating a lot more free cash flow in 2024, so I do expect them to increase their dividends.
At the time of this post OKE was trading at $67.33. My current valuation is $74.00 per share and likely to go up after I see a full quarter of combined results.
Dividends in 2023 have been $0.955/quarter.
TipRanks: "In the last 3 months, 9 ranked analysts set 12-month price targets for OKE. The average price target among the analysts is $74.56."
ONEOK Inc. (OKE) for Growth + Income - Nov 29
ONEOK Inc. (OKE) for Growth + Income - Nov 29
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group