ONEOK (OKE) Posts Quarterly Earnings, Misses Expectations By $0.03 EPS
ONEOK (NYSE:OKE) announced its earnings results on Tuesday. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.03, StockRatingsNetwork reports. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis.
ONEOK (NYSE:OKE) traded down 1.39% on Tuesday, hitting $63.71. The stock had a trading volume of 1,328,946 shares. ONEOK has a 1-year low of $43.6263 and a 1-year high of $68.46. The stock has a 50-day moving average of $66.52 and a 200-day moving average of $62.35. The company has a market cap of $13.243 billion and a price-to-earnings ratio of 54.48.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 14th. Stockholders of record on Monday, August 4th will be given a dividend of $0.575 per share. This represents a $2.30 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, July 31st. This is a boost from ONEOK’s previous quarterly dividend of $0.56.
A number of analysts have recently weighed in on OKE shares. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of ONEOK in a research note on Tuesday, July 22nd. They now have a $68.00 price target on the stock, up previously from $67.00. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of ONEOK in a research note on Thursday, June 26th. They now have a $71.00 price target on the stock. Finally, analysts at TheStreet upgraded shares of ONEOK from a “hold” rating to a “buy” rating in a research note on Monday, June 16th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. ONEOK currently has an average rating of “Buy” and a consensus price target of $68.14.
ONEOK, Inc is a diversified energy company. The Company’s segments include ONEOK Partners, Natural Gas Distribution and Energy Services.
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