ONEOK (NYSE:OKE) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

ONEOK (NYSE:OKE) posted its quarterly earnings data on Monday. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12, Briefing.com reports. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the prior year, the company posted $1.04 earnings per share. ONEOK updated its FY 2024 guidance to 4.920-4.920 EPS.

ONEOK Stock Down 2.0 %

OKE stock traded down $1.57 during mid-day trading on Monday, hitting $78.60. 3,528,736 shares of the company were exchanged, compared to its average volume of 2,756,126. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.48 and a current ratio of 0.70. The firm has a market cap of $45.87 billion, a P/E ratio of 18.07, a P/E/G ratio of 4.37 and a beta of 1.65. The firm’s 50 day simple moving average is $81.43 and its 200 day simple moving average is $78.12. ONEOK has a 1-year low of $60.58 and a 1-year high of $86.20.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.99 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $3.96 annualized dividend and a yield of 5.04%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Analysts Set New Price Targets

Several equities analysts recently commented on OKE shares. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Truist Financial increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of ONEOK from $89.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, June 26th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Finally, Wells Fargo & Company increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of “Hold” and an average price target of $85.00.

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.