Analysts Expect ONEOK, Inc. (NYSE:OKE) to Announce $0.76 EPS

Wall Street brokerages predict that ONEOK, Inc. (NYSE:OKE) will announce earnings per share (EPS) of $0.76 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for ONEOK’s earnings, with estimates ranging from $0.69 to $0.83. ONEOK reported earnings per share of $0.75 during the same quarter last year, which would suggest a positive year over year growth rate of 1.3%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 29th.

According to Zacks, analysts expect that ONEOK will report full year earnings of $3.12 per share for the current financial year, with EPS estimates ranging from $2.99 to $3.21. For the next financial year, analysts forecast that the business will report earnings of $3.79 per share, with EPS estimates ranging from $3.44 to $4.36. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow ONEOK.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.04. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a net margin of 10.67% and a return on equity of 19.30%. ONEOK’s revenue for the quarter was down 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS.

A number of research analysts recently commented on the stock. Argus upped their price target on shares of ONEOK to $82.00 and gave the company an “average” rating in a research note on Tuesday, August 6th. UBS Group upgraded shares of ONEOK from a “neutral” rating to a “buy” rating and upped their price target for the company from $69.00 to $75.00 in a research note on Monday, August 12th. Mitsubishi UFJ Financial Group upped their price target on shares of ONEOK to $77.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Credit Suisse Group upped their price target on shares of ONEOK from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 price target on the stock. in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.69.

OKE traded up $0.68 on Friday, reaching $75.77. The company had a trading volume of 3,108,259 shares, compared to its average volume of 1,822,002. ONEOK has a fifty-two week low of $50.26 and a fifty-two week high of $77.21. The stock has a market cap of $31.59 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.13 and a beta of 1.13. The company’s fifty day moving average is $70.91 and its 200 day moving average is $68.67. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.60 and a current ratio of 0.81.

Several large investors have recently made changes to their positions in the business. Bridger Capital Management LLC bought a new stake in shares of ONEOK during the 2nd quarter worth approximately $463,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of ONEOK by 4.4% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 117,333 shares of the utilities provider’s stock worth $8,074,000 after acquiring an additional 4,987 shares during the period. Atria Investments LLC lifted its holdings in shares of ONEOK by 3.1% during the 2nd quarter. Atria Investments LLC now owns 12,765 shares of the utilities provider’s stock worth $875,000 after acquiring an additional 382 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of ONEOK by 2.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 197,003 shares of the utilities provider’s stock worth $13,556,000 after acquiring an additional 4,480 shares during the period. Finally, RFG Advisory LLC lifted its stake in ONEOK by 9.1% in the 2nd quarter. RFG Advisory LLC now owns 11,032 shares of the utilities provider’s stock valued at $764,000 after purchasing an additional 923 shares during the last quarter. Hedge funds and other institutional investors own 74.31% of the company’s stock.

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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