ONEOK, Inc. to Post FY2018 Earnings of $1.83 Per Share, Jefferies Group Forecasts (OKE)
ONEOK, Inc. (NYSE:OKE) – Stock analysts at Jefferies Group lowered their FY2018 earnings per share estimates for shares of ONEOK in a report issued on Wednesday. Jefferies Group analyst C. Sighinolfi now expects that the utilities provider will earn $1.83 per share for the year, down from their previous forecast of $1.87. Jefferies Group currently has a “Hold” rating and a $51.00 price target on the stock.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, May 2nd. The utilities provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.04. ONEOK had a net margin of 3.60% and a return on equity of 10.33%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.82 billion. WARNING: This piece of content was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/17/oneok-inc-to-post-fy2018-earnings-of-1-83-per-share-jefferies-group-forecasts-oke.html.
A number of other equities analysts have also commented on the company. Zacks Investment Research raised ONEOK from a “strong sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $54.00 price objective on the stock. in a research note on Wednesday, July 5th. BMO Capital Markets raised ONEOK from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $53.00 to $59.00 in a research note on Wednesday, July 5th. BidaskClub raised ONEOK from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Stifel Nicolaus assumed coverage on ONEOK in a research note on Monday, June 26th. They issued a “hold” rating and a $48.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $57.31.
Shares of ONEOK (OKE) opened at 53.16 on Monday. The stock has a 50 day moving average of $50.19 and a 200 day moving average of $53.84. The firm has a market cap of $11.21 billion, a P/E ratio of 31.74 and a beta of 1.30. ONEOK has a 52 week low of $42.79 and a 52 week high of $59.47.
A number of large investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV acquired a new stake in shares of ONEOK during the first quarter worth $100,000. Huntington National Bank increased its stake in shares of ONEOK by 33.7% in the first quarter. Huntington National Bank now owns 2,196 shares of the utilities provider’s stock worth $122,000 after buying an additional 554 shares during the last quarter. Financial Architects Inc increased its stake in shares of ONEOK by 165.4% in the first quarter. Financial Architects Inc now owns 3,755 shares of the utilities provider’s stock worth $208,000 after buying an additional 2,340 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in shares of ONEOK by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 4,020 shares of the utilities provider’s stock worth $210,000 after buying an additional 20 shares during the last quarter. Finally, Agran Libbie acquired a new stake in shares of ONEOK during the first quarter worth $213,000. Institutional investors and hedge funds own 80.93% of the company’s stock.
In other ONEOK news, Director Eduardo A. Rodriguez sold 2,000 shares of ONEOK stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $50.34, for a total value of $100,680.00. Following the completion of the sale, the director now directly owns 18,125 shares in the company, valued at $912,412.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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