US Capital Advisors Comments on ONEOK, Inc.’s FY2019 Earnings (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE) – Analysts at US Capital Advisors issued their FY2019 EPS estimates for shares of ONEOK in a research note issued to investors on Thursday, Zacks Investment Research reports. US Capital Advisors analyst B. Followill anticipates that the utilities provider will earn $2.69 per share for the year.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.06). ONEOK had a net margin of 3.76% and a return on equity of 9.25%. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm posted $0.43 EPS.

Other analysts also recently issued research reports about the company. Barclays upgraded ONEOK from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $58.00 to $67.00 in a research note on Wednesday. UBS Group upped their target price on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research downgraded ONEOK from a “hold” rating to a “sell” rating in a research note on Tuesday, December 12th. Wells Fargo & Co upgraded ONEOK from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 11th. Finally, Bank of America assumed coverage on ONEOK in a research note on Tuesday, January 9th. They issued a “neutral” rating on the stock. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. ONEOK currently has an average rating of “Buy” and an average target price of $59.93.

Shares of ONEOK (NYSE OKE) opened at $59.41 on Monday. ONEOK has a one year low of $47.14 and a one year high of $60.06. The company has a quick ratio of 0.41, a current ratio of 0.55 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $22,780.00, a PE ratio of 37.13, a PEG ratio of 2.22 and a beta of 1.26.

Institutional investors have recently made changes to their positions in the business. Ropes Wealth Advisors LLC acquired a new position in shares of ONEOK during the second quarter valued at approximately $103,000. Winslow Evans & Crocker Inc. raised its holdings in shares of ONEOK by 462.9% during the third quarter. Winslow Evans & Crocker Inc. now owns 1,970 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 1,620 shares during the last quarter. Mercer Capital Advisers Inc. raised its holdings in shares of ONEOK by 229.8% during the third quarter. Mercer Capital Advisers Inc. now owns 1,979 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 1,379 shares during the last quarter. Enterprise Financial Services Corp raised its holdings in shares of ONEOK by 332.8% during the third quarter. Enterprise Financial Services Corp now owns 2,268 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,744 shares during the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new position in shares of ONEOK during the third quarter valued at approximately $150,000. 69.94% of the stock is owned by institutional investors and hedge funds.

In other news, Director Brian L. Derksen bought 1,800 shares of ONEOK stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $51.00 per share, with a total value of $91,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, January 29th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.18%. This is an increase from ONEOK’s previous quarterly dividend of $0.75. ONEOK’s dividend payout ratio is currently 186.25%.

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About ONEOK

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

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Earnings History and Estimates for ONEOK (NYSE:OKE)

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