ONEOK (OKE) to Release Quarterly Earnings on Tuesday

ONEOK (NYSE:OKE) is set to 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 that wish to register for the company’s conference call can do so using this link.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period last year, the company posted $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

OKE stock opened at $96.66 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The company’s 50-day moving average is $92.85 and its 200-day moving average is $85.25. The stock has a market capitalization of $56.42 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 4.31 and a beta of 1.67. ONEOK has a 1 year low of $63.33 and a 1 year high of $98.43.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors 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 dividend yield of 4.10%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is currently 92.09%.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction on 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 SEC, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on OKE. Morgan Stanley raised shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Mizuho increased their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Wells Fargo & Company upped their price target on ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Barclays lifted their price objective on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $94.77.

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.