US Capital Advisors Decreases Earnings Estimates for ONEOK

ONEOK, Inc. (NYSE:OKE) – Research analysts at US Capital Advisors dropped their FY2024 earnings per share (EPS) estimates for ONEOK in a research report issued on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the utilities provider will post earnings per share of $4.87 for the year, down from their prior forecast of $5.10. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.15 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.27 EPS, Q2 2025 earnings at $1.32 EPS and FY2026 earnings at $6.81 EPS.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the prior year, the company earned $0.99 earnings per share.

Several other brokerages have also commented on OKE. Truist Financial raised their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Mizuho upgraded ONEOK to a “hold” rating in a research note on Thursday, November 7th. Finally, Citigroup raised their price target on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, ONEOK currently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Trading Down 0.8 %

Shares of NYSE OKE opened at $112.59 on Thursday. ONEOK has a twelve month low of $65.49 and a twelve month high of $118.07. The firm has a market cap of $65.77 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 5.56 and a beta of 1.66. The business has a fifty day simple moving average of $100.35 and a two-hundred day simple moving average of $89.78. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

Hedge Funds Weigh In On ONEOK

A number of hedge funds have recently made changes to their positions in the company. Synovus Financial Corp increased its position in shares of ONEOK by 61.4% during the third quarter. Synovus Financial Corp now owns 4,265 shares of the utilities provider’s stock worth $389,000 after purchasing an additional 1,622 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of ONEOK by 270.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 14,531 shares of the utilities provider’s stock worth $1,324,000 after buying an additional 10,609 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in shares of ONEOK in the third quarter valued at about $2,640,000. World Investment Advisors LLC lifted its stake in shares of ONEOK by 154.1% in the third quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider’s stock worth $959,000 after buying an additional 6,381 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of ONEOK by 11.5% in the third quarter. Sanctuary Advisors LLC now owns 121,377 shares of the utilities provider’s stock worth $11,061,000 after buying an additional 12,471 shares in the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% of the company’s stock.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is presently 82.85%.

About ONEOK

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.