Equities analysts forecast that ONEOK, Inc. (NYSE:OKE) will announce $2.77 billion in sales for the current quarter, Zacks reports. Three analysts have provided estimates for ONEOK’s earnings, with the lowest sales estimate coming in at $2.71 billion and the highest estimate coming in at $2.89 billion. ONEOK posted sales of $2.96 billion during the same quarter last year, which would indicate a negative year over year growth rate of 6.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that ONEOK will report full-year sales of $11.62 billion for the current financial year, with estimates ranging from $11.29 billion to $11.78 billion. For the next fiscal year, analysts expect that the company will report sales of $12.69 billion, with estimates ranging from $11.41 billion to $14.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for ONEOK.
ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.08. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.70 billion. ONEOK had a net margin of 9.98% and a return on equity of 18.47%. During the same period in the prior year, the firm earned $0.64 EPS.
A number of equities research analysts have recently issued reports on OKE shares. Seaport Global Securities cut shares of ONEOK from a “buy” rating to a “neutral” rating and set a $69.07 target price on the stock. in a report on Monday, April 22nd. Mizuho set a $73.00 target price on shares of ONEOK and gave the company a “hold” rating in a report on Tuesday, February 26th. Raymond James cut shares of ONEOK from a “strong-buy” rating to an “outperform” rating in a report on Tuesday, April 16th. Evercore ISI started coverage on shares of ONEOK in a report on Tuesday, February 5th. They issued a $68.00 target price on the stock. Finally, Zacks Investment Research raised shares of ONEOK from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Tuesday, May 7th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $71.73.
Shares of OKE stock traded up $0.57 on Friday, reaching $64.35. The stock had a trading volume of 31,037 shares, compared to its average volume of 1,818,279. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.55 and a current ratio of 0.79. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.82 and a beta of 1.18. ONEOK has a 12 month low of $50.26 and a 12 month high of $71.99.
The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Monday, April 29th were issued a $0.865 dividend. This is a boost from ONEOK’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 5.38%. The ex-dividend date of this dividend was Friday, April 26th. ONEOK’s dividend payout ratio is currently 124.46%.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the transaction, the director now directly owns 15,536 shares of the company’s stock, valued at approximately $1,037,028. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in OKE. Meridian Wealth Management LLC increased its holdings in shares of ONEOK by 14.5% during the first quarter. Meridian Wealth Management LLC now owns 11,315 shares of the utilities provider’s stock worth $790,000 after purchasing an additional 1,434 shares during the period. Clearbridge Investments LLC increased its holdings in shares of ONEOK by 2.8% during the first quarter. Clearbridge Investments LLC now owns 3,125,678 shares of the utilities provider’s stock worth $218,297,000 after purchasing an additional 83,906 shares during the period. GYL Financial Synergies LLC bought a new position in shares of ONEOK during the first quarter worth approximately $792,000. Allstate Corp increased its holdings in shares of ONEOK by 17.8% during the first quarter. Allstate Corp now owns 48,011 shares of the utilities provider’s stock worth $3,353,000 after purchasing an additional 7,252 shares during the period. Finally, First Dallas Securities Inc. boosted its position in shares of ONEOK by 3.2% during the 1st quarter. First Dallas Securities Inc. now owns 39,685 shares of the utilities provider’s stock worth $2,772,000 after acquiring an additional 1,235 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
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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