ONEOK (NYSE:OKE) Updates FY 2024 Earnings Guidance

ONEOK (NYSE:OKE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.110-5.110 for the period, compared to the consensus earnings per share estimate of 5.030. The company issued revenue guidance of -. ONEOK also updated its FY24 guidance to $5.11 EPS.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OKE. Wells Fargo & Company lifted their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Truist Financial lifted their price target on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Tudor Pickering raised shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Barclays boosted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Monday, September 16th. Finally, Bank of America initiated coverage on ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $94.77.

ONEOK Trading Down 0.5 %

Shares of ONEOK stock traded down $0.48 during midday trading on Tuesday, reaching $95.54. The company had a trading volume of 2,898,852 shares, compared to its average volume of 2,725,797. The firm has a market cap of $55.80 billion, a PE ratio of 20.81, a P/E/G ratio of 4.17 and a beta of 1.67. The stock has a fifty day moving average price of $93.18 and a 200 day moving average price of $85.56. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. ONEOK has a fifty-two week low of $63.33 and a fifty-two week high of $98.43.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.12. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $5.52 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the prior year, the company posted $1.04 earnings per share. On average, equities analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The firm 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 $0.99 dividend. This represents a $3.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction 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 is available at this hyperlink. Insiders own 0.20% 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.