FY2019 EPS Estimates for ONEOK, Inc. (OKE) Reduced by Jefferies Group
ONEOK, Inc. (NYSE:OKE) – Analysts at Jefferies Group dropped their FY2019 earnings per share (EPS) estimates for ONEOK in a report issued on Friday. Jefferies Group analyst C. Sighinolfi now anticipates that the utilities provider will post earnings of $2.03 per share for the year, down from their previous forecast of $2.16.
A number of other brokerages have also recently commented on OKE. Wells Fargo & Co upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating in a report on Thursday. Bank of America assumed coverage on shares of ONEOK in a report on Tuesday, January 9th. They set a “neutral” rating on the stock. BMO Capital Markets set a $62.00 target price on shares of ONEOK and gave the company a “buy” rating in a report on Wednesday, October 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $54.00 price target on shares of ONEOK in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded shares of ONEOK from a “hold” rating to a “strong-buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 17th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $59.14.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the firm posted $0.43 EPS.
In other news, Director Brian L. Derksen purchased 1,800 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $51.00 per share, for a total transaction of $91,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Stephens Inc. AR raised its position in ONEOK by 0.4% in the 2nd quarter. Stephens Inc. AR now owns 15,430 shares of the utilities provider’s stock worth $805,000 after buying an additional 58 shares during the last quarter. Capstone Investment Advisors Netherlands B.V. raised its position in ONEOK by 31.3% in the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 3,071 shares of the utilities provider’s stock worth $160,000 after buying an additional 732 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in ONEOK by 4.8% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 19,520 shares of the utilities provider’s stock worth $1,018,000 after buying an additional 897 shares during the last quarter. Benson Investment Management Company Inc. raised its position in ONEOK by 2.1% in the 4th quarter. Benson Investment Management Company Inc. now owns 44,565 shares of the utilities provider’s stock worth $2,382,000 after buying an additional 905 shares during the last quarter. Finally, Sentry Investment Management LLC raised its position in ONEOK by 6.9% in the 2nd quarter. Sentry Investment Management LLC now owns 16,252 shares of the utilities provider’s stock worth $848,000 after buying an additional 1,056 shares during the last quarter. 69.94% of the stock is owned by institutional investors and hedge funds.
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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