Q2 2024 EPS Estimates for ONEOK, Inc. (NYSE:OKE) Boosted by US Capital Advisors

ONEOK, Inc. (NYSE:OKE) – Investment analysts at US Capital Advisors lifted their Q2 2024 earnings per share estimates for ONEOK in a report released on Monday, April 29th. US Capital Advisors analyst J. Carreker now anticipates that the utilities provider will earn $1.18 per share for the quarter, up from their prior estimate of $1.17. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $4.99 per share. US Capital Advisors also issued estimates for ONEOK’s Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.33 EPS and FY2025 earnings at $5.35 EPS.

Several other equities analysts have also recently commented on the stock. Raymond James increased their price target on shares of ONEOK from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. StockNews.com upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. JPMorgan Chase & Co. upped their price target on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho lifted their price objective on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Finally, Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.58.

ONEOK Price Performance

Shares of OKE stock opened at $77.24 on Thursday. The firm has a fifty day moving average of $78.25 and a two-hundred day moving average of $71.95. The firm has a market cap of $45.08 billion, a P/E ratio of 17.96, a P/E/G ratio of 4.70 and a beta of 1.64. ONEOK has a 1-year low of $55.91 and a 1-year high of $81.81. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.67.

ONEOK (NYSE:OKE) last released its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the prior year, the business posted $2.34 EPS.

ONEOK announced that its Board of Directors has authorized a share buyback plan on Wednesday, January 17th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the utilities provider to repurchase up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be issued a dividend of $0.99 per share. The ex-dividend date is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a dividend yield of 5.13%. ONEOK’s dividend payout ratio (DPR) is presently 92.09%.

Insider Transactions at ONEOK

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

Institutional Trading of ONEOK

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in ONEOK by 10.3% during the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after purchasing an additional 5,525,010 shares in the last quarter. Deutsche Bank AG raised its stake in shares of ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after buying an additional 3,636,660 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of ONEOK by 21.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,408,725 shares of the utilities provider’s stock valued at $871,341,000 after buying an additional 2,153,295 shares during the period. Morgan Stanley boosted its stake in ONEOK by 20.3% during the third quarter. Morgan Stanley now owns 8,660,013 shares of the utilities provider’s stock valued at $549,305,000 after buying an additional 1,458,392 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in ONEOK by 65.9% during the third quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after acquiring an additional 3,229,046 shares during the period. 69.13% of the stock is currently owned by institutional investors.

About ONEOK

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.