ONEOK FY2024 EPS Estimate Increased by US Capital Advisors

ONEOK, Inc. (NYSE:OKE) – Investment analysts at US Capital Advisors raised their FY2024 earnings per share estimates for shares of ONEOK in a research report issued to clients and investors on Monday, October 28th. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will post earnings per share of $5.10 for the year, up from their prior forecast 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.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same quarter last year, the business posted $1.04 EPS.

A number of other research firms have also recently weighed in on OKE. Mizuho increased their price objective on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Truist Financial raised their price target on ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Bank of America began coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Stock Down 0.5 %

ONEOK stock opened at $95.54 on Tuesday. ONEOK has a twelve month low of $63.33 and a twelve month high of $98.43. The stock has a 50 day moving average of $93.18 and a two-hundred day moving average of $85.56. 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 stock 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.

Institutional Investors Weigh In On ONEOK

Institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co lifted its stake in shares of ONEOK by 8.7% during the first quarter. Diversified Trust Co now owns 4,019 shares of the utilities provider’s stock worth $322,000 after purchasing an additional 323 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of ONEOK by 464.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 198,018 shares of the utilities provider’s stock worth $15,875,000 after purchasing an additional 162,963 shares in the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of ONEOK by 268.3% during the first quarter. Tradewinds Capital Management LLC now owns 8,330 shares of the utilities provider’s stock worth $668,000 after purchasing an additional 6,068 shares in the last quarter. Norden Group LLC lifted its stake in shares of ONEOK by 4,460.2% during the first quarter. Norden Group LLC now owns 134,388 shares of the utilities provider’s stock worth $10,773,000 after purchasing an additional 131,441 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of ONEOK by 1.3% during the first quarter. Cornerstone Wealth Management LLC now owns 16,334 shares of the utilities provider’s stock worth $1,310,000 after purchasing an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Activity

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

ONEOK Announces Dividend

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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s payout ratio is 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.