ONEOK (OKE) Set to Announce Earnings on Tuesday

ONEOK (NYSE:OKE) is scheduled to release its earnings data after the market closes on Tuesday, April 30th. Analysts expect ONEOK to post earnings of $1.06 per share for the quarter. ONEOK has set its FY24 guidance at $4.45-$5.14 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

ONEOK (NYSE:OKE) last issued its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.03). ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the company earned $1.08 EPS. On average, analysts expect ONEOK to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

ONEOK Trading Down 0.4 %

ONEOK stock opened at $81.06 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. ONEOK has a 12 month low of $55.91 and a 12 month high of $81.81. The stock’s 50 day simple moving average is $77.78 and its two-hundred day simple moving average is $71.68. The firm has a market cap of $47.31 billion, a PE ratio of 14.61, a P/E/G ratio of 4.97 and a beta of 1.65.

ONEOK announced that its board has approved a stock buyback program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be given a $0.99 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 annualized dividend and a yield of 4.89%. ONEOK’s dividend payout ratio is presently 71.35%.

Insider Buying and Selling at ONEOK

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were bought at an average price of $75.25 per share, for a total transaction of $203,175.00. Following the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

OKE has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial upped their price objective on ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, March 21st. Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Barclays increased their target price on ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on ONEOK from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $82.25.

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.