ONEOK FY2024 EPS Estimate Increased by US Capital Advisors

ONEOK, Inc. (NYSE:OKE) – US Capital Advisors raised their FY2024 earnings per share estimates for shares of ONEOK in a note issued to investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will earn $5.10 per share for the year, up from their previous estimate of $5.01. The consensus estimate for ONEOK’s current full-year earnings is $5.10 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.44 EPS, Q1 2025 earnings at $1.40 EPS, Q3 2025 earnings at $1.40 EPS, Q4 2025 earnings at $1.50 EPS, FY2025 earnings at $5.68 EPS and FY2026 earnings at $6.20 EPS.

Other equities analysts also recently issued research reports about the company. Truist Financial increased their price target on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Scotiabank raised their price objective on ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Barclays raised their price objective on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $94.77.

ONEOK Price Performance

OKE opened at $95.54 on Tuesday. ONEOK has a 12-month low of $63.33 and a 12-month high of $98.43. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The business’s fifty day simple moving average is $93.18 and its 200-day simple moving average is $85.56. The company has a market capitalization of $55.80 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same quarter in the prior year, the company posted $1.04 EPS.

Institutional Trading of ONEOK

Several large investors have recently made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. grew its holdings in ONEOK by 3.5% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,795,313 shares of the utilities provider’s stock valued at $554,158,000 after buying an additional 232,043 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of ONEOK by 28.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 3,705,367 shares of the utilities provider’s stock valued at $297,059,000 after purchasing an additional 825,464 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of ONEOK by 12.3% in the 1st quarter. First Eagle Investment Management LLC now owns 3,465,068 shares of the utilities provider’s stock valued at $277,795,000 after purchasing an additional 378,509 shares during the last quarter. Energy Income Partners LLC lifted its stake in shares of ONEOK by 10.3% in the 1st quarter. Energy Income Partners LLC now owns 3,434,728 shares of the utilities provider’s stock valued at $275,362,000 after purchasing an additional 319,487 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ONEOK by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,340,155 shares of the utilities provider’s stock valued at $272,377,000 after purchasing an additional 132,326 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is presently 86.27%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.