US Capital Advisors Decreases Earnings Estimates for ONEOK

ONEOK, Inc. (NYSE:OKE) – Equities researchers at US Capital Advisors dropped their FY2024 earnings per share estimates for ONEOK in a research note issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will post earnings per share of $4.84 for the year, down from their previous estimate of $4.87. US Capital Advisors currently has a “Strong-Buy” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.09 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $1.38 EPS and Q2 2025 earnings at $1.30 EPS.

Several other equities research analysts have also recently issued reports on the company. Truist Financial raised their target price on ONEOK from $99.00 to $107.00 and gave the stock a “hold” rating in a research note on Tuesday, December 3rd. Scotiabank initiated coverage on ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 target price for the company. Wells Fargo & Company cut ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 target price for the company. in a research note on Wednesday, December 18th. UBS Group raised their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Royal Bank of Canada raised their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.92.

ONEOK Price Performance

NYSE:OKE opened at $97.03 on Wednesday. ONEOK has a one year low of $67.05 and a one year high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The stock has a market cap of $56.68 billion, a PE ratio of 20.30, a P/E/G ratio of 3.69 and a beta of 1.70. The stock has a 50 day moving average price of $104.24 and a 200 day moving average price of $97.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Astoria Portfolio Advisors LLC. boosted its holdings in ONEOK by 4.1% in the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 96 shares during the period. McAdam LLC boosted its holdings in ONEOK by 3.8% in the fourth quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in ONEOK by 0.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC lifted its holdings in ONEOK by 1.2% during the 4th quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA lifted its holdings in ONEOK by 1.4% during the 4th quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock worth $734,000 after buying an additional 104 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Monday, February 3rd will be issued a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 dividend on an annualized basis and a yield of 4.25%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.