ONEOK (NYSE:OKE) Issues FY20 Earnings Guidance

ONEOK (NYSE:OKE) issued an update on its FY20 earnings guidance on Monday morning. The company provided EPS guidance of $3.25-3.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.84.

OKE stock traded down $5.74 during midday trading on Thursday, hitting $67.55. 7,201,664 shares of the stock were exchanged, compared to its average volume of 2,114,354. The stock’s 50-day moving average price is $75.90 and its 200-day moving average price is $72.87. The stock has a market cap of $30.41 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.76 and a beta of 1.11. ONEOK has a fifty-two week low of $63.13 and a fifty-two week high of $78.48. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 0.73.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, February 24th. The utilities provider reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.72 billion. ONEOK had a return on equity of 20.27% and a net margin of 12.58%. ONEOK’s revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. Research analysts anticipate that ONEOK will post 3.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, January 27th were given a $0.935 dividend. The ex-dividend date was Friday, January 24th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 5.54%. This is an increase from ONEOK’s previous quarterly dividend of $0.92. ONEOK’s payout ratio is currently 121.82%.

OKE has been the subject of a number of recent analyst reports. SunTrust Banks lifted their price objective on ONEOK from $76.00 to $80.00 and gave the company a buy rating in a research report on Thursday. Wells Fargo & Co boosted their price target on ONEOK from $81.00 to $83.00 and gave the company an overweight rating in a research report on Wednesday. ValuEngine upgraded ONEOK from a sell rating to a hold rating in a research note on Tuesday, February 4th. Morgan Stanley initiated coverage on ONEOK in a research note on Monday, January 6th. They set an underweight rating and a $63.00 price objective on the stock. Finally, Goldman Sachs Group upgraded ONEOK from a neutral rating to a buy rating and boosted their price objective for the stock from $73.00 to $81.00 in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $76.84.

In other ONEOK news, Director Mark W. Helderman acquired 6,094 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was acquired at an average cost of $73.36 per share, with a total value of $447,055.84. Corporate insiders own 0.60% of the company’s stock.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.

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Earnings History and Estimates for ONEOK (NYSE:OKE)

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