Wall Street brokerages expect ONEOK, Inc. (NYSE:OKE) to post $2.72 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for ONEOK’s earnings, with the lowest sales estimate coming in at $2.29 billion and the highest estimate coming in at $3.24 billion. ONEOK reported sales of $3.39 billion during the same quarter last year, which indicates a negative year over year growth rate of 19.8%. The firm is expected to report its next earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that ONEOK will report full year sales of $11.08 billion for the current fiscal year, with estimates ranging from $10.02 billion to $11.94 billion. For the next year, analysts expect that the company will post sales of $13.08 billion, with estimates ranging from $10.22 billion to $15.56 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover ONEOK.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.04. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. The firm’s quarterly revenue was down 17.0% on a year-over-year basis. During the same quarter last year, the company posted $0.68 EPS.
Shares of NYSE:OKE traded down $1.63 during mid-day trading on Friday, reaching $68.01. 1,168,235 shares of the company were exchanged, compared to its average volume of 2,323,142. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.60 and a current ratio of 0.81. The company has a market cap of $28.52 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a 50-day moving average price of $69.31. ONEOK has a 1 year low of $50.26 and a 1 year high of $72.38.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.23%. This is a positive change from ONEOK’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, August 5th. ONEOK’s dividend payout ratio (DPR) is presently 128.06%.
Several institutional investors and hedge funds have recently made changes to their positions in OKE. Dimensional Fund Advisors LP raised its holdings in ONEOK by 39.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,650,200 shares of the utilities provider’s stock valued at $89,021,000 after acquiring an additional 465,583 shares during the period. Geode Capital Management LLC raised its holdings in ONEOK by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 5,334,493 shares of the utilities provider’s stock valued at $287,526,000 after acquiring an additional 415,385 shares during the period. Huntington National Bank raised its holdings in ONEOK by 14.1% during the first quarter. Huntington National Bank now owns 3,979 shares of the utilities provider’s stock valued at $278,000 after acquiring an additional 492 shares during the period. Triangle Securities Wealth Management bought a new stake in ONEOK during the first quarter valued at about $282,000. Finally, Pacer Advisors Inc. bought a new stake in ONEOK during the first quarter valued at about $2,390,000. Institutional investors and hedge funds own 74.39% of the company’s stock.
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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