US Capital Advisors Analysts Lift Earnings Estimates for ONEOK, Inc. (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE) – Investment analysts at US Capital Advisors lifted their Q3 2024 earnings per share (EPS) estimates for shares of ONEOK in a report released on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will earn $1.23 per share for the quarter, up from their previous forecast of $1.22. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $4.92 per share. US Capital Advisors also issued estimates for ONEOK’s FY2024 earnings at $4.85 EPS, Q2 2025 earnings at $1.30 EPS, Q3 2025 earnings at $1.35 EPS, Q4 2025 earnings at $1.47 EPS, FY2025 earnings at $5.42 EPS and FY2026 earnings at $5.83 EPS.

A number of other research firms also recently commented on OKE. Truist Financial boosted their price objective on shares of ONEOK from $71.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their target price on ONEOK from $88.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their price objective on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Seaport Res Ptn upgraded shares of ONEOK from a “neutral” rating to a “buy” rating in a report on Thursday, February 8th. Finally, UBS Group upped their price objective on shares of ONEOK from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.58.

ONEOK Trading Down 1.8 %

Shares of OKE stock opened at $80.19 on Wednesday. ONEOK has a 1-year low of $56.19 and a 1-year high of $83.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.70 and a quick ratio of 0.48. The business’s fifty day moving average price is $79.63 and its 200 day moving average price is $73.36. The firm has a market capitalization of $46.80 billion, a PE ratio of 18.65, a P/E/G ratio of 4.47 and a beta of 1.64.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same quarter last year, the firm earned $2.34 earnings per share.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st were issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Tuesday, April 30th. ONEOK’s payout ratio is currently 92.09%.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Wayne Thomas Smith bought 2,700 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 2,700 shares in the company, valued at approximately $203,175. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OKE. Principal Financial Group Inc. increased its stake in ONEOK by 27.7% during the 3rd quarter. Principal Financial Group Inc. now owns 662,160 shares of the utilities provider’s stock worth $42,001,000 after buying an additional 143,735 shares during the period. California Public Employees Retirement System increased its stake in ONEOK by 1.8% during the third quarter. California Public Employees Retirement System now owns 838,670 shares of the utilities provider’s stock valued at $53,197,000 after purchasing an additional 15,005 shares during the last quarter. Welch & Forbes LLC lifted its position in shares of ONEOK by 104.8% in the 3rd quarter. Welch & Forbes LLC now owns 6,985 shares of the utilities provider’s stock worth $443,000 after buying an additional 3,575 shares during the last quarter. Private Advisor Group LLC grew its position in shares of ONEOK by 28.3% during the 3rd quarter. Private Advisor Group LLC now owns 59,330 shares of the utilities provider’s stock valued at $3,763,000 after buying an additional 13,077 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in ONEOK by 234.6% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,796 shares of the utilities provider’s stock worth $748,000 after acquiring an additional 8,271 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

ONEOK Company Profile

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.