ONEOK (NYSE:OKE) Issues Earnings Results

ONEOK (NYSE:OKE) posted its quarterly earnings data on Tuesday. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05), Briefing.com reports. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the business earned $0.99 EPS. ONEOK updated its FY24 guidance to $5.11 EPS and its FY 2024 guidance to 5.110-5.110 EPS.

ONEOK Price Performance

Shares of ONEOK stock traded up $1.87 during trading on Wednesday, hitting $97.42. 1,386,044 shares of the stock traded hands, compared to its average volume of 2,719,419. The firm’s fifty day moving average is $93.18 and its 200-day moving average is $85.56. The stock has a market cap of $56.90 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 4.17 and a beta of 1.67. ONEOK has a 52 week low of $63.33 and a 52 week high of $98.43. The company has a quick ratio of 0.41, a current ratio of 0.62 and a debt-to-equity ratio of 1.22.

ONEOK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 4.06%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is currently 86.27%.

Insiders Place Their Bets

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.

Analyst Ratings Changes

OKE has been the subject of several recent research reports. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $103.00 to $111.00 in a research report on Monday, September 16th. Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a research note on Wednesday. Scotiabank raised their target price on ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 30th. Mizuho upped their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

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.