US Capital Advisors Expects Weaker Earnings for ONEOK

ONEOK, Inc. (NYSE:OKE) – Equities researchers at US Capital Advisors cut their FY2024 earnings per share (EPS) estimates for shares of ONEOK in a research note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will post earnings of $4.87 per share for the year, down from their previous forecast of $5.10. US Capital Advisors currently 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.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Bank of America assumed coverage on shares of ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Scotiabank increased their target price on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 30th. UBS Group upped their price objective on shares of ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Barclays increased their price objective on shares of ONEOK from $94.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Stock Down 0.8 %

OKE stock opened at $112.59 on Thursday. ONEOK has a one year low of $65.49 and a one year high of $118.07. The firm has a market cap of $65.77 billion, a PE ratio of 23.55, a PEG ratio of 5.56 and a beta of 1.66. The firm’s 50 day moving average price is $100.35 and its 200-day moving average price is $89.78. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81.

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). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm earned $0.99 earnings per share.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors 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 dividend payout ratio (DPR) is 82.85%.

Insider Activity at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ONEOK

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in ONEOK in the 2nd quarter valued at about $28,000. Matrix Trust Co purchased a new position in ONEOK in the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new position in ONEOK during the 2nd quarter worth $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. purchased a new stake in shares of ONEOK in the third quarter valued at about $44,000. 69.13% of the stock is owned by hedge funds and other institutional investors.

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.