ONEOK, Inc. (NYSE:OKE) Expected to Announce Earnings of $0.79 Per Share

Brokerages expect that ONEOK, Inc. (NYSE:OKE) will announce earnings of $0.79 per share for the current quarter, Zacks reports. Three analysts have made estimates for ONEOK’s earnings, with estimates ranging from $0.78 to $0.81. ONEOK posted earnings of $0.70 per share during the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The firm is expected to issue its next quarterly earnings results on Monday, February 24th.

On average, analysts expect that ONEOK will report full year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.18. For the next year, analysts forecast that the firm will report earnings of $3.79 per share, with EPS estimates ranging from $3.44 to $4.04. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for ONEOK.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the firm posted $0.75 EPS.

A number of research analysts recently weighed in on the stock. Credit Suisse Group lifted their price objective on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. UBS Group reduced their target price on shares of ONEOK from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Goldman Sachs Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $81.00 in a report on Sunday, November 3rd. Mitsubishi UFJ Financial Group increased their price objective on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Argus lifted their price objective on shares of ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. ONEOK currently has a consensus rating of “Buy” and an average price target of $74.71.

OKE stock opened at $70.48 on Wednesday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $29.68 billion, a PE ratio of 25.35, a P/E/G ratio of 2.20 and a beta of 1.13. ONEOK has a one year low of $50.26 and a one year high of $77.21. The firm’s fifty day moving average is $71.29 and its 200 day moving average is $69.30.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 4th will be given a dividend of $0.915 per share. The ex-dividend date is Friday, November 1st. This is a positive change from ONEOK’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a yield of 5.19%. ONEOK’s dividend payout ratio (DPR) is presently 131.65%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Krane Funds Advisors LLC bought a new stake in shares of ONEOK during the second quarter valued at approximately $27,000. JNBA Financial Advisors increased its position in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares during the period. IMA Wealth Inc. bought a new stake in shares of ONEOK during the second quarter valued at approximately $32,000. Gradient Investments LLC increased its position in shares of ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 260 shares during the period. Finally, FinTrust Capital Advisors LLC increased its position in shares of ONEOK by 498.0% during the second quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 508 shares during the period. Hedge funds and other institutional investors own 74.40% of the company’s stock.

ONEOK Company Profile

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Earnings History and Estimates for ONEOK (NYSE:OKE)

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