ONEOK (NYSE:OKE) Announces Earnings Results

ONEOK (NYSE:OKE) issued its quarterly earnings results on Monday. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12, Briefing.com reports. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. ONEOK had a net margin of 12.54% and a return on equity of 15.94%. During the same period in the prior year, the firm earned $1.04 earnings per share. ONEOK updated its FY 2024 guidance to 4.920-4.920 EPS.

ONEOK Stock Performance

Shares of ONEOK stock traded up $0.74 during trading hours on Wednesday, hitting $83.06. 3,628,791 shares of the company were exchanged, compared to its average volume of 2,780,401. ONEOK has a 1 year low of $60.58 and a 1 year high of $86.20. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. The business has a 50-day moving average of $81.41 and a 200-day moving average of $78.26. The stock has a market capitalization of $48.48 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 4.37 and a beta of 1.65.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be issued a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Thursday, August 1st. ONEOK’s payout ratio is currently 92.09%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Stifel Nicolaus boosted their price target on shares of ONEOK from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Truist Financial boosted their price objective on ONEOK from $81.00 to $83.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on ONEOK from $85.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday. Tudor Pickering raised ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, StockNews.com raised ONEOK from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.50.

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.