Q2 2024 Earnings Forecast for ONEOK, Inc. (NYSE:OKE) Issued By US Capital Advisors

ONEOK, Inc. (NYSE:OKE) – Research analysts at US Capital Advisors lifted their Q2 2024 earnings per share (EPS) estimates for ONEOK in a report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the utilities provider will post earnings per share of $1.18 for the quarter, up from their previous forecast of $1.17. US Capital Advisors currently has a “Hold” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.01 per share. US Capital Advisors also issued estimates for ONEOK’s Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.33 EPS and FY2025 earnings at $5.35 EPS.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Raymond James boosted their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and a consensus target price of $82.25.

ONEOK Stock Performance

NYSE:OKE opened at $76.92 on Thursday. The company has a market cap of $44.89 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 4.81 and a beta of 1.64. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. ONEOK has a 52 week low of $55.91 and a 52 week high of $81.81. The company has a fifty day simple moving average of $78.19 and a two-hundred day simple moving average of $71.91.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 16.87%. During the same quarter in the prior year, the company earned $2.34 earnings per share.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 5.15%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 92.09%.

ONEOK announced that its Board of Directors has approved a share buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now directly owns 2,700 shares in the company, valued at $203,175. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On ONEOK

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in ONEOK by 10.3% during the 3rd quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after buying an additional 5,525,010 shares during the last quarter. Norges Bank purchased a new position in ONEOK during the fourth quarter worth about $297,948,000. Deutsche Bank AG lifted its position in ONEOK by 37.7% in the third quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock valued at $843,133,000 after purchasing an additional 3,636,660 shares during the period. Blackstone Inc. lifted its position in ONEOK by 3,478.3% in the third quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock valued at $226,973,000 after purchasing an additional 3,478,316 shares during the period. Finally, Invesco Ltd. lifted its position in ONEOK by 65.9% in the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock valued at $515,832,000 after purchasing an additional 3,229,046 shares during the period. 69.13% of the stock is owned by institutional investors and hedge funds.

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.