ONEOK (NYSE:OKE) Releases FY24 Earnings Guidance

ONEOK (NYSE:OKE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.92 for the period, compared to the consensus EPS estimate of $4.91.

ONEOK Stock Down 1.6 %

Shares of OKE traded down $1.31 during trading hours on Tuesday, reaching $79.12. The stock had a trading volume of 4,136,841 shares, compared to its average volume of 2,986,417. The company has a market capitalization of $46.18 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 4.95 and a beta of 1.65. The firm has a 50-day simple moving average of $77.97 and a 200 day simple moving average of $71.81. ONEOK has a 12 month low of $55.91 and a 12 month high of $81.81. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29.

ONEOK (NYSE:OKE) last released its earnings results on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.57 billion. ONEOK had a return on equity of 22.57% and a net margin of 15.04%. During the same quarter in the previous year, the firm earned $1.08 EPS. Equities research analysts predict that ONEOK will post 4.99 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio (DPR) is 71.35%.

ONEOK declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 17th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on OKE shares. Stifel Nicolaus lifted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Wolfe Research upgraded ONEOK from an underperform rating to a peer perform rating in a research report on Wednesday, January 10th. US Capital Advisors lowered shares of ONEOK from an overweight rating to a hold rating in a report on Wednesday, March 20th. UBS Group upped their price target on ONEOK from $80.00 to $87.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Finally, Truist Financial raised their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a hold rating in a report on Thursday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, ONEOK has a consensus rating of Hold and an average price target of $82.25.

Insider Buying and Selling

In other ONEOK news, Director Wayne Thomas Smith purchased 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was acquired at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the purchase, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

About ONEOK

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.