ONEOK: 2023 Is Shaping Up Great For Dividend Fans

Dec. 06, 2022 6:24 AM ETONEOK, Inc. (OKE)11 Comments
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DT Analysis


  • ONEOK saw an impressive start to 2022, which continued throughout the third quarter.
  • When looking ahead, their generalized guidance for 2023 is very positive, with management expecting 10%+ adjusted EBITDA growth versus 2022 and broadly flat capital expenditure.
  • This creates a powerful combination for higher dividends, which have been unchanged for almost three years straight.
  • When asked about higher dividends, management was seemingly open to the idea given their strong outlook for 2023.
  • Since they have outperformed my expectations, I believe that upgrading to a buy rating is now appropriate.

Gold Colored 2023 Sitting Over 100 American Dollar Bills - Money Printing and Inflation Concept

MicroStockHub/iStock via Getty Images


When last discussing ONEOK (NYSE:OKE) following the second quarter of 2022, my previous article explained the good and the bad of higher natural gas prices in light of the booming operating conditions

ONEOK Ratings


ONEOK Cash Flows


ONEOK Operating Cash Flows


ONEOK Capital Structure


ONEOK Leverage


ONEOK Debt Serviceability


ONEOK Liquidity


This article was written by

DT Analysis profile picture
My analysis primarily focuses on income investments with a preference for those sporting high and very high yields.  This space often contains value traps, although it also contains very desirable opportunities that have the potential to generate significant alpha for investors.  I endeavor to help investors make their own investment selections by providing my insights into financial information released by companies in the context of the current economic outlook.  Whilst I offer ratings via this site, these should not be taken as financial advice nor to proceed with a particular investment.  Apart from my extensive personal investment experience that spans over a decade, I have also obtained a Bachelor degree with Honours majoring in Finance, minoring in Accounting.

Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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