ONEOK (OKE) to Release Earnings on Tuesday

ONEOK (NYSE:OKE) is scheduled to be announcing its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce 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 listen to the company’s conference call can do so using this link.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the prior year, the company earned $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 Stock Down 0.8 %

NYSE:OKE opened at $96.66 on Monday. The firm 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. The stock has a 50 day moving average of $92.85 and a 200-day moving average of $85.33. ONEOK has a 52 week low of $63.33 and a 52 week high of $98.43. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.10%. ONEOK’s dividend payout ratio is presently 92.09%.

Wall Street Analyst Weigh In

Several analysts recently commented on OKE shares. Bank of America started coverage on ONEOK in a research report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price on the stock. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Barclays upped 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. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company upped their price target on shares of ONEOK from $91.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.77.

Insiders Place Their Bets

In other 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.