ONEOK, Inc. Forecasted to Earn Q2 2024 Earnings of $1.16 Per Share (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE) – Research analysts at Seaport Res Ptn issued their Q2 2024 earnings estimates for shares of ONEOK in a report released on Tuesday, July 30th. Seaport Res Ptn analyst S. Sibal forecasts that the utilities provider will post earnings per share of $1.16 for the quarter. The consensus estimate for ONEOK’s current full-year earnings is $5.02 per share. Seaport Res Ptn also issued estimates for ONEOK’s Q3 2024 earnings at $1.27 EPS, Q4 2024 earnings at $1.33 EPS, FY2024 earnings at $4.85 EPS, FY2025 earnings at $5.43 EPS, FY2026 earnings at $5.74 EPS and FY2027 earnings at $6.22 EPS.

Several other brokerages also recently issued reports on OKE. Stifel Nicolaus increased their price objective on shares of ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Mizuho raised their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley lifted their target price on ONEOK from $90.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $85.00.

ONEOK Stock Performance

Shares of NYSE:OKE opened at $80.17 on Thursday. The company has a market cap of $46.79 billion, a P/E ratio of 18.64, a PEG ratio of 4.43 and a beta of 1.65. ONEOK has a one year low of $60.58 and a one year high of $86.20. The business’s 50-day simple moving average is $81.43 and its 200 day simple moving average is $78.00. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same quarter in the previous year, the firm posted $2.34 earnings per share.

Institutional Investors Weigh In On ONEOK

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC acquired a new stake in shares of ONEOK during the first quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in ONEOK during the first quarter worth about $26,000. Ridgewood Investments LLC bought a new position in ONEOK in the second quarter worth about $31,000. American National Bank acquired a new position in ONEOK in the first quarter valued at approximately $32,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of ONEOK during the fourth quarter valued at approximately $32,000. 69.13% of the stock is owned by institutional investors and hedge funds.

ONEOK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is 92.09%.

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.