ONEOK (OKE) Set to Announce Earnings on Tuesday

ONEOK (NYSE:OKE) will post its quarterly earnings results 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

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

NYSE:OKE opened at $81.06 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.90 and a debt-to-equity ratio of 1.29. The business’s 50 day moving average is $77.78 and its two-hundred day moving average is $71.68. ONEOK has a 52 week low of $55.91 and a 52 week high of $81.81. The company has a market cap of $47.31 billion, a PE ratio of 14.61, a P/E/G ratio of 4.97 and a beta of 1.65.

ONEOK Announces Dividend

The company 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 dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, April 30th. ONEOK’s dividend payout ratio is presently 71.35%.

ONEOK announced that its Board of Directors has initiated a stock repurchase program on Wednesday, January 17th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the utilities provider to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

OKE has been the topic of several recent research reports. Barclays raised their price target on ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Morgan Stanley raised their price target on ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 26th. UBS Group raised their price target on ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Citigroup raised their price target on ONEOK from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, Mizuho raised their price target on ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $82.25.

Insider Activity

In other news, Director Wayne Thomas Smith purchased 2,700 shares of the stock in a transaction dated Friday, March 1st. The shares were bought at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the transaction, the director now owns 2,700 shares in the company, valued at $203,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.

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.