Equities research analysts forecast that ONEOK, Inc. (NYSE:OKE) will announce sales of $3.68 billion for the current quarter, according to Zacks. Two analysts have provided estimates for ONEOK’s earnings, with the highest sales estimate coming in at $4.10 billion and the lowest estimate coming in at $3.26 billion. ONEOK posted sales of $2.65 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 38.9%. The company is expected to issue its next earnings report after the market closes on Monday, February 26th.
On average, analysts expect that ONEOK will report full-year sales of $3.68 billion for the current fiscal year, with estimates ranging from $11.43 billion to $12.85 billion. For the next fiscal year, analysts forecast that the company will post sales of $12.90 billion per share, with estimates ranging from $11.61 billion to $15.11 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover ONEOK.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business posted $0.43 EPS.
In related news, Director Brian L. Derksen bought 1,800 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $51.00 per share, for a total transaction of $91,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Tortoise Capital Advisors L.L.C. raised its stake in shares of ONEOK by 269.7% during 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 purchasing an additional 9,737,701 shares in the last quarter. Harvest Fund Advisors LLC bought a new stake in shares of ONEOK during the third quarter valued at about $414,256,000. Kayne Anderson Capital Advisors LP raised its stake in shares of ONEOK by 184.7% during 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 purchasing an additional 6,148,494 shares in the last quarter. State Street Corp raised its stake in shares of ONEOK by 53.7% during the second quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after purchasing an additional 6,086,061 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of ONEOK by 10,295.1% during the second quarter. Janus Henderson Group PLC now owns 2,258,138 shares of the utilities provider’s stock valued at $117,779,000 after purchasing an additional 2,236,415 shares in the last quarter. Institutional investors own 66.30% of the company’s stock.
Shares of ONEOK (OKE) opened at $60.15 on Monday. ONEOK has a 1 year low of $47.14 and a 1 year high of $61.36. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. The firm has a market cap of $24,690.14, a P/E ratio of 37.59, a PEG ratio of 1.98 and a beta of 1.25.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 5.12%. This is a boost from ONEOK’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 26th. ONEOK’s dividend payout ratio (DPR) is presently 186.25%.
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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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