FY2024 EPS Estimates for ONEOK Cut by US Capital Advisors

ONEOK, Inc. (NYSE:OKE) – Equities researchers at US Capital Advisors cut their FY2024 earnings estimates for ONEOK in a report released on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the utilities provider will earn $4.84 per share for the year, down from their previous forecast of $4.87. US Capital Advisors has a “Strong-Buy” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.09 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $1.38 EPS and Q2 2025 earnings at $1.30 EPS.

Other analysts also recently issued research reports about the company. Wells Fargo & Company downgraded ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective for the company. in a research report on Wednesday, December 18th. Barclays raised their price target on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Truist Financial increased their target price on shares of ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday, December 3rd. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Finally, Mizuho upgraded ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $102.92.

ONEOK Trading Up 0.8 %

NYSE OKE opened at $97.84 on Wednesday. The stock has a 50-day moving average of $103.91 and a 200-day moving average of $97.42. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. ONEOK has a 1-year low of $67.67 and a 1-year high of $118.07. The firm has a market cap of $57.16 billion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 3.69 and a beta of 1.70.

ONEOK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $4.12 annualized dividend and a dividend yield of 4.21%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is presently 82.85%.

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKE. International Assets Investment Management LLC increased its stake in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after purchasing an additional 3,197,121 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in ONEOK by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after buying an additional 661,854 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of ONEOK in the third quarter worth about $47,957,000. National Pension Service lifted its position in shares of ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock valued at $126,779,000 after buying an additional 498,908 shares in the last quarter. Finally, Yaupon Capital Management LP bought a new position in shares of ONEOK during the 3rd quarter valued at approximately $45,194,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

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.