ONEOK FY2024 EPS Estimate Lowered by US Capital Advisors

ONEOK, Inc. (NYSE:OKE) – Stock analysts at US Capital Advisors reduced their FY2024 EPS estimates for shares of ONEOK in a research note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will post earnings of $4.87 per share for the year, down from their previous forecast of $5.10. US Capital Advisors has a “Moderate Buy” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.08 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.27 EPS, Q2 2025 earnings at $1.32 EPS and FY2026 earnings at $6.81 EPS.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same quarter in the previous year, the firm posted $0.99 earnings per share.

A number of other equities analysts have also weighed in on the company. Wells Fargo & Company boosted their price objective on ONEOK from $100.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Barclays boosted their price target on shares of ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Truist Financial upped their price objective on shares of ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Citigroup lifted their target price on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada increased their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $100.38.

ONEOK Trading Up 0.9 %

Shares of ONEOK stock opened at $113.64 on Thursday. ONEOK has a 1-year low of $65.49 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The stock has a market cap of $66.39 billion, a P/E ratio of 23.77, a P/E/G ratio of 5.69 and a beta of 1.66. The stock’s 50 day simple moving average is $100.75 and its 200-day simple moving average is $90.01.

Institutional Investors Weigh In On ONEOK

Several large investors have recently bought and sold shares of OKE. Synovus Financial Corp increased its stake in shares of ONEOK by 61.4% during the third quarter. Synovus Financial Corp now owns 4,265 shares of the utilities provider’s stock worth $389,000 after buying an additional 1,622 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in ONEOK by 270.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 14,531 shares of the utilities provider’s stock worth $1,324,000 after acquiring an additional 10,609 shares during the last quarter. Arvest Bank Trust Division acquired a new position in ONEOK during the 3rd quarter worth approximately $2,640,000. World Investment Advisors LLC grew its holdings in ONEOK by 154.1% during the 3rd quarter. World Investment Advisors LLC now owns 10,522 shares of the utilities provider’s stock worth $959,000 after acquiring an additional 6,381 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of ONEOK by 11.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 121,377 shares of the utilities provider’s stock valued at $11,061,000 after purchasing an additional 12,471 shares during the last quarter. Hedge funds and other institutional investors own 69.13% of the company’s stock.

Insider Buying and Selling

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.99 dividend. The ex-dividend date was Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 3.48%. ONEOK’s dividend payout ratio is presently 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.