ONEOK (OKE) to Release Earnings on Tuesday

ONEOK (NYSE:OKE) will post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect ONEOK to post earnings of $1.26 per share for the quarter. ONEOK has set its FY 2024 guidance at 4.920-4.920 EPS.Investors interested in listening to the company’s conference call can do so using this link.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the company earned $1.04 earnings per share. On average, analysts expect ONEOK to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

ONEOK Price Performance

Shares of NYSE OKE opened at $96.82 on Tuesday. The company has a market capitalization of $56.55 billion, a PE ratio of 21.09, a PEG ratio of 4.82 and a beta of 1.67. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22. The stock’s 50 day moving average price is $92.02 and its 200-day moving average price is $84.84. ONEOK has a twelve month low of $63.33 and a twelve month high of $98.43.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.09%. ONEOK’s dividend payout ratio (DPR) is currently 86.27%.

Insider Transactions at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OKE. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $103.00 to $111.00 in a research report on Monday, September 16th. Wells Fargo & Company raised their price objective on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Citigroup lifted their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of ONEOK from $89.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, June 26th. Finally, Truist Financial raised their price target on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average price target of $94.77.

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.