Zacks: Brokerages Anticipate ONEOK, Inc. (OKE) Will Announce Earnings of $0.49 Per Share
Wall Street analysts forecast that ONEOK, Inc. (NYSE:OKE) will post $0.49 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for ONEOK’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.54. ONEOK reported earnings of $0.44 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 7th.
On average, analysts expect that ONEOK will report full-year earnings of $1.76 per share for the current fiscal year, with EPS estimates ranging from $1.32 to $2.08. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.85 per share, with EPS estimates ranging from $0.76 to $2.46. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow ONEOK.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.12. ONEOK had a return on equity of 8.62% and a net margin of 3.26%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the business earned $0.40 earnings per share.
A number of equities analysts have commented on OKE shares. Argus raised ONEOK from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, June 21st. Guggenheim started coverage on ONEOK in a research note on Monday, April 17th. They issued a “buy” rating and a $62.00 price objective on the stock. UBS AG raised ONEOK from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $59.00 in a research note on Wednesday, June 14th. BidaskClub raised ONEOK from a “hold” rating to a “buy” rating in a research note on Friday, August 4th. Finally, 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. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $57.15.
In related news, Director Eduardo A. Rodriguez sold 2,000 shares of the company’s stock in a transaction dated 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 owns 18,125 shares in the company, valued at $912,412.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of OKE. Janney Montgomery Scott LLC boosted its position in ONEOK by 102.1% in the first quarter. Janney Montgomery Scott LLC now owns 39,307 shares of the utilities provider’s stock worth $2,179,000 after buying an additional 19,859 shares during the last quarter. Penserra Capital Management LLC boosted its position in ONEOK by 14.6% in the first quarter. Penserra Capital Management LLC now owns 22,931 shares of the utilities provider’s stock worth $1,271,000 after buying an additional 2,925 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in ONEOK by 12.0% in the first quarter. Parsons Capital Management Inc. RI now owns 4,465 shares of the utilities provider’s stock valued at $248,000 after buying an additional 480 shares in the last quarter. 1st Global Advisors Inc. purchased a new position in ONEOK during the first quarter valued at $885,000. Finally, Macquarie Group Ltd. boosted its position in ONEOK by 3.1% in the fourth quarter. Macquarie Group Ltd. now owns 67,500 shares of the utilities provider’s stock valued at $3,875,000 after buying an additional 2,020 shares in the last quarter. 80.89% of the stock is owned by hedge funds and other institutional investors.
Shares of ONEOK (NYSE OKE) traded down 2.62% on Tuesday, hitting $50.95. The stock had a trading volume of 5,037,046 shares. ONEOK has a 52 week low of $45.41 and a 52 week high of $59.47. The firm has a 50 day moving average price of $53.25 and a 200-day moving average price of $52.98. The company has a market cap of $19.36 billion, a price-to-earnings ratio of 31.92 and a beta of 1.31.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, August 7th were issued a $0.745 dividend. This represents a $2.98 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date was Thursday, August 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.62. ONEOK’s dividend payout ratio is currently 186.25%.
ONEOK Company Profile
ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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