ONEOK, Inc. (NYSE:OKE) – Equities researchers at Seaport Global Securities cut their Q3 2019 EPS estimates for ONEOK in a research report issued on Wednesday, October 16th. Seaport Global Securities analyst S. Sibal now anticipates that the utilities provider will post earnings per share of $0.74 for the quarter, down from their previous forecast of $0.77. Seaport Global Securities also issued estimates for ONEOK’s Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $3.10 EPS, FY2020 earnings at $3.82 EPS, FY2021 earnings at $4.36 EPS, FY2022 earnings at $4.59 EPS and FY2023 earnings at $4.70 EPS.
OKE has been the subject of several other reports. UBS Group upgraded ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the company from $69.00 to $75.00 in a report on Monday, August 12th. Zacks Investment Research cut ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a report on Wednesday, September 18th. Barclays set a $79.00 target price on ONEOK and gave the company a “hold” rating in a report on Tuesday, October 15th. Credit Suisse Group increased their target price on ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Argus increased their target price on ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $73.67.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was down 17.0% compared to the same quarter last year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Krane Funds Advisors LLC bought a new position in ONEOK during the 2nd quarter valued at approximately $27,000. JNBA Financial Advisors raised its position in ONEOK by 91.3% during the 2nd quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. IMA Wealth Inc. bought a new position in ONEOK during the 2nd quarter valued at approximately $32,000. Gradient Investments LLC raised its position in ONEOK by 82.3% during the 2nd quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 260 shares during the last quarter. Finally, FinTrust Capital Advisors LLC raised its position in ONEOK by 498.0% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 508 shares during the last quarter. 74.55% of the stock is owned by institutional investors and hedge funds.
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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