US Capital Advisors Brokers Lift Earnings Estimates for ONEOK, Inc. (OKE)
ONEOK, Inc. (NYSE:OKE) – US Capital Advisors increased their FY2017 earnings estimates for ONEOK in a report issued on Thursday. US Capital Advisors analyst B. Followill now forecasts that the utilities provider will post earnings of $1.79 per share for the year, up from their previous estimate of $1.73. US Capital Advisors also issued estimates for ONEOK’s Q4 2017 earnings at $0.55 EPS, Q1 2018 earnings at $0.58 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.42 EPS.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same period in the previous year, the company posted $0.43 earnings per share.
Shares of ONEOK (OKE) opened at $56.20 on Friday. The company has a market cap of $21,296.07, a PE ratio of 35.13, a price-to-earnings-growth ratio of 2.88 and a beta of 1.25. ONEOK has a 1 year low of $47.14 and a 1 year high of $59.30. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47.
Institutional investors have recently made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. raised its position in ONEOK by 269.7% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock worth $739,659,000 after buying an additional 9,737,701 shares during the last quarter. Harvest Fund Advisors LLC purchased a new position in ONEOK during the 3rd quarter worth approximately $414,256,000. Kayne Anderson Capital Advisors LP raised its position in ONEOK by 184.7% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock worth $525,098,000 after buying an additional 6,148,494 shares during the last quarter. State Street Corp raised its position in ONEOK by 53.7% during the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock worth $908,434,000 after buying an additional 6,086,061 shares during the last quarter. Finally, BlackRock Inc. raised its position in ONEOK by 28.4% during the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock worth $1,252,605,000 after buying an additional 5,317,251 shares during the last quarter. 70.89% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Brian L. Derksen acquired 1,800 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
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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