ONEOK, Inc. (NYSE:OKE) Expected to Post Quarterly Sales of $2.44 Billion

Analysts forecast that ONEOK, Inc. (NYSE:OKE) will post sales of $2.44 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ONEOK’s earnings. The lowest sales estimate is $2.40 billion and the highest is $2.51 billion. ONEOK posted sales of $3.14 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 22.3%. The business is scheduled to report its next earnings results on Monday, February 24th.

According to Zacks, analysts expect that ONEOK will report full year sales of $9.94 billion for the current year, with estimates ranging from $9.90 billion to $10.01 billion. For the next year, analysts forecast that the firm will report sales of $10.59 billion, with estimates ranging from $9.23 billion to $11.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover ONEOK.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the prior year, the business earned $0.75 earnings per share.

OKE has been the subject of a number of analyst reports. Goldman Sachs Group upgraded ONEOK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $73.00 to $81.00 in a research report on Sunday, November 3rd. Barclays set a $79.00 price objective on shares of ONEOK and gave the stock a “hold” rating in a research report on Tuesday, October 15th. UBS Group raised shares of ONEOK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $69.00 to $75.00 in a research note on Monday, August 12th. Tudor Pickering started coverage on shares of ONEOK in a research note on Friday, November 8th. They set a “buy” rating and a $74.00 price objective for the company. Finally, Credit Suisse Group boosted their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $74.53.

In other ONEOK news, CAO Mary M. Spears sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $71.85, for a total value of $143,700.00. Following the transaction, the chief accounting officer now owns 10,263 shares in the company, valued at approximately $737,396.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of OKE. Evanson Asset Management LLC boosted its position in ONEOK by 0.3% during the third quarter. Evanson Asset Management LLC now owns 45,538 shares of the utilities provider’s stock worth $3,356,000 after purchasing an additional 145 shares during the period. Liberty Wealth Management LLC lifted its holdings in shares of ONEOK by 25.1% in the second quarter. Liberty Wealth Management LLC now owns 748 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 150 shares in the last quarter. Synovus Financial Corp boosted its position in shares of ONEOK by 3.7% during the second quarter. Synovus Financial Corp now owns 4,291 shares of the utilities provider’s stock worth $296,000 after buying an additional 152 shares during the period. Haverford Trust Co. grew its holdings in shares of ONEOK by 5.2% during the third quarter. Haverford Trust Co. now owns 3,110 shares of the utilities provider’s stock worth $229,000 after buying an additional 155 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in ONEOK by 0.3% in the 3rd quarter. Moors & Cabot Inc. now owns 45,389 shares of the utilities provider’s stock valued at $3,348,000 after buying an additional 157 shares during the last quarter. 73.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE OKE traded up $0.62 during midday trading on Friday, hitting $70.81. 620,602 shares of the stock traded hands, compared to its average volume of 1,595,683. The firm has a market capitalization of $29.35 billion, a P/E ratio of 25.47, a PEG ratio of 2.16 and a beta of 1.16. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a 50-day moving average of $70.67 and a two-hundred day moving average of $69.69. ONEOK has a one year low of $50.26 and a one year high of $77.21.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a dividend of $0.915 per share. This is a positive change from ONEOK’s previous quarterly dividend of $0.89. This represents a $3.66 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Friday, November 1st. ONEOK’s payout ratio is 131.65%.

ONEOK Company Profile

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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Earnings History and Estimates for ONEOK (NYSE:OKE)

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