Equities research analysts expect ONEOK, Inc. (NYSE:OKE) to post $2.55 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for ONEOK’s earnings. The highest sales estimate is $2.81 billion and the lowest is $2.37 billion. ONEOK posted sales of $2.13 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.7%. The company is expected to report its next quarterly earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that ONEOK will report full-year sales of $2.55 billion for the current financial year, with estimates ranging from $10.34 billion to $12.18 billion. For the next financial year, analysts anticipate that the company will post sales of $12.56 billion per share, with estimates ranging from $11.21 billion to $15.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ONEOK.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, May 2nd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.04. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.82 billion. ONEOK had a net margin of 3.60% and a return on equity of 10.33%.
Several research firms recently issued reports on OKE. Jefferies Group LLC reissued a “hold” rating and set a $51.00 price target on shares of ONEOK in a report on Friday. Guggenheim began coverage on shares of ONEOK in a report on Monday, April 17th. They set a “buy” rating and a $62.00 price target for the company. TheStreet raised shares of ONEOK from a “c+” rating to a “b-” rating in a report on Monday, March 6th. Zacks Investment Research cut shares of ONEOK from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 4th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $58.00 price target on shares of ONEOK in a report on Friday, May 12th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.91.
ONEOK (OKE) traded up 4.06% during trading on Friday, hitting $50.97. The company’s stock had a trading volume of 3,277,993 shares. The company has a 50-day moving average of $50.68 and a 200 day moving average of $54.24. ONEOK has a one year low of $42.79 and a one year high of $59.47. The firm has a market cap of $10.75 billion, a PE ratio of 30.43 and a beta of 1.28.
Several hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in ONEOK by 8.3% in the third quarter. HighTower Advisors LLC now owns 10,175 shares of the utilities provider’s stock valued at $522,000 after buying an additional 780 shares in the last quarter. Capital Innovations LLC purchased a new stake in shares of ONEOK during the third quarter worth about $245,000. Ontario Teachers Pension Plan Board raised its stake in shares of ONEOK by 32.3% in the third quarter. Ontario Teachers Pension Plan Board now owns 8,832 shares of the utilities provider’s stock worth $454,000 after buying an additional 2,155 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of ONEOK by 544.7% in the third quarter. Candriam Luxembourg S.C.A. now owns 64,610 shares of the utilities provider’s stock worth $3,320,000 after buying an additional 54,588 shares during the period. Finally, Tuttle Tactical Management LLC purchased a new stake in shares of ONEOK during the third quarter worth about $151,000. Institutional investors and hedge funds own 81.59% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc is the sole general partner of ONEOK Partners, L.P. (ONEOK Partners), a master limited partnership engaged in the gathering, processing, storage and transportation of natural gas in the United States. The Company operates through three business segments: Natural Gas Gathering and Processing, Natural Gas Liquids and Natural Gas Pipelines.
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