ONEOK, Inc. (NYSE:OKE) – Equities research analysts at US Capital Advisors upped their Q3 2021 earnings per share (EPS) estimates for ONEOK in a research note issued on Tuesday, July 20th. US Capital Advisors analyst B. Followill now expects that the utilities provider will earn $0.82 per share for the quarter, up from their previous estimate of $0.81. US Capital Advisors also issued estimates for ONEOK’s Q2 2022 earnings at $0.90 EPS, Q3 2022 earnings at $0.92 EPS, Q4 2022 earnings at $0.92 EPS, FY2022 earnings at $3.63 EPS and FY2023 earnings at $3.91 EPS.
A number of other analysts also recently commented on OKE. Morgan Stanley boosted their target price on shares of ONEOK from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Friday, June 18th. Raymond James boosted their target price on shares of ONEOK from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, April 15th. Mizuho boosted their target price on shares of ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, April 7th. They noted that the move was a valuation call. TheStreet upgraded shares of ONEOK from a “c+” rating to a “b-” rating in a report on Wednesday, April 28th. Finally, Wells Fargo & Company boosted their price target on shares of ONEOK from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, June 24th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $44.82.
ONEOK (NYSE:OKE) last released its quarterly earnings results on Tuesday, April 27th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. ONEOK had a net margin of 11.88% and a return on equity of 18.61%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.53 billion. During the same period in the previous year, the firm earned $0.83 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be given a $0.935 dividend. This represents a $3.74 annualized dividend and a yield of 7.00%. ONEOK’s dividend payout ratio is 263.38%.
A number of hedge funds have recently bought and sold shares of OKE. FMR LLC grew its position in ONEOK by 26.7% in the first quarter. FMR LLC now owns 229,823 shares of the utilities provider’s stock worth $16,051,000 after acquiring an additional 48,432 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of ONEOK during the 4th quarter worth $3,492,000. Renaissance Technologies LLC bought a new stake in shares of ONEOK during the 4th quarter worth $4,280,000. Vontobel Holding Ltd. bought a new stake in shares of ONEOK during the 4th quarter worth $261,000. Finally, Eaton Vance Management boosted its holdings in shares of ONEOK by 19.1% during the 4th quarter. Eaton Vance Management now owns 28,991 shares of the utilities provider’s stock worth $1,113,000 after buying an additional 4,654 shares during the period. 63.98% of the stock is owned by institutional investors.
ONEOK, Inc, together with its subsidiaries, engages in 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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