ONEOK, Inc. (NYSE:OKE) to Post Q3 2024 Earnings of $1.23 Per Share, US Capital Advisors Forecasts

ONEOK, Inc. (NYSE:OKE) – Investment analysts at US Capital Advisors boosted their Q3 2024 earnings estimates for shares of ONEOK in a research report issued to clients and investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will post earnings of $1.23 per share for the quarter, up from their previous forecast of $1.22. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $4.92 per share. US Capital Advisors also issued estimates for ONEOK’s FY2024 earnings at $4.85 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.35 EPS, Q4 2025 earnings at $1.47 EPS, FY2025 earnings at $5.42 EPS and FY2026 earnings at $5.83 EPS.

ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter in the previous year, the firm posted $2.34 earnings per share.

Other analysts have also recently issued reports about the stock. Mizuho upped their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. StockNews.com raised shares of ONEOK from a “sell” rating to a “hold” rating in a report on Friday, May 17th. Morgan Stanley lifted their target price on ONEOK from $84.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of ONEOK from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.58.

ONEOK Trading Down 1.8 %

OKE stock opened at $80.19 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The firm has a market cap of $46.80 billion, a P/E ratio of 18.65, a P/E/G ratio of 4.47 and a beta of 1.64. ONEOK has a 1-year low of $56.19 and a 1-year high of $83.31. The business’s 50 day moving average is $79.63 and its 200-day moving average is $73.36.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were issued a $0.99 dividend. The ex-dividend date was Tuesday, April 30th. This represents a $3.96 annualized dividend and a dividend yield of 4.94%. ONEOK’s dividend payout ratio (DPR) is currently 92.09%.

Insider Transactions at ONEOK

In related news, Director Wayne Thomas Smith purchased 2,700 shares of the business’s stock in a transaction on Friday, March 1st. The shares were purchased at an average price of $75.25 per share, with a total value of $203,175.00. Following the completion of the purchase, the director now owns 2,700 shares in the company, valued at approximately $203,175. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sheets Smith Wealth Management increased its stake in ONEOK by 0.3% in the 1st quarter. Sheets Smith Wealth Management now owns 52,199 shares of the utilities provider’s stock valued at $4,185,000 after buying an additional 139 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of ONEOK by 5.3% in the first quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider’s stock worth $256,000 after acquiring an additional 144 shares in the last quarter. Presima Securities ULC boosted its position in ONEOK by 1.7% during the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 150 shares during the last quarter. Finally, Regal Investment Advisors LLC grew its stake in ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider’s stock valued at $294,000 after purchasing an additional 159 shares in the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

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.