ONEOK (OKE) Set to Announce Quarterly 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 that are interested in registering for the company’s earnings conference call can do so using this link.

ONEOK (NYSE:OKE) last posted its earnings results on Monday, February 26th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.03). The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period in the previous year, the company posted $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 %

Shares of NYSE:OKE opened at $81.06 on Monday. The company has a market capitalization of $47.31 billion, a P/E ratio of 14.61, a P/E/G ratio of 4.95 and a beta of 1.65. 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 1.29, a current ratio of 0.90 and a quick ratio of 0.67. The business’s 50 day simple moving average is $77.78 and its 200 day simple moving average is $71.71.

ONEOK declared that its Board of Directors has approved a share buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

ONEOK Announces Dividend

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

Analyst Upgrades and Downgrades

OKE has been the subject of a number of research reports. US Capital Advisors cut ONEOK from an “overweight” rating to a “hold” rating in a research note on Wednesday, March 20th. Wolfe Research raised ONEOK from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 10th. Stifel Nicolaus lifted 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. JPMorgan Chase & Co. lifted their price objective on ONEOK from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Finally, Seaport Res Ptn raised ONEOK from a “neutral” rating to a “buy” rating in a research report on Thursday, February 8th. 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.com, ONEOK presently has an average rating of “Hold” and an average target price of $82.25.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the stock in a transaction on Friday, March 1st. The shares were acquired at an average price of $75.25 per share, with a total value of $203,175.00. Following the acquisition, the director now directly owns 2,700 shares of the company’s stock, valued at approximately $203,175. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

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.