ONEOK, Inc. (NYSE:OKE) – Stock analysts at US Capital Advisors increased their Q1 2018 EPS estimates for ONEOK in a research report issued to clients and investors on Wednesday. US Capital Advisors analyst B. Followill now expects that the utilities provider will earn $0.61 per share for the quarter, up from their previous forecast of $0.58. US Capital Advisors also issued estimates for ONEOK’s Q2 2018 earnings at $0.63 EPS, Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.59 EPS and FY2019 earnings at $2.86 EPS.
Several other brokerages also recently weighed in on OKE. Barclays upgraded ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $58.00 to $67.00 in a research note on Wednesday. Royal Bank of Canada upgraded ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and set a $64.00 price target on shares of ONEOK in a research report on Tuesday. Wells Fargo & Co raised shares of ONEOK from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 11th. Finally, Bank of America assumed coverage on shares of ONEOK in a research report on Tuesday, January 9th. They set a “neutral” rating on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.93.
ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm earned $0.43 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be issued a $0.77 dividend. The ex-dividend date is Friday, January 26th. This represents a $3.08 dividend on an annualized basis and a yield of 5.30%. This is a boost from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s dividend payout ratio (DPR) is currently 186.25%.
In other ONEOK news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $51.00 per share, with a total value of $91,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in ONEOK by 17.3% in the 2nd quarter. Vanguard Group Inc. now owns 27,197,952 shares of the utilities provider’s stock worth $1,418,645,000 after acquiring an additional 4,002,795 shares during the period. State Street Corp boosted its position in ONEOK by 53.7% in the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after buying an additional 6,086,061 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in ONEOK by 269.7% in the third quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after buying an additional 9,737,701 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in ONEOK by 184.7% in the third quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after buying an additional 6,148,494 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its position in ONEOK by 3.3% in the third quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after buying an additional 300,031 shares in the last quarter. 69.94% of the stock is currently owned by institutional investors.
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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