ONEOK (OKE) Set to Announce Earnings on Tuesday

ONEOK (NYSE:OKE) will issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $1.06 per share for the quarter. ONEOK has set its FY24 guidance at $4.45-$5.14 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Monday, February 26th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.03). The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period last year, the business earned $1.08 earnings per share. On average, analysts expect ONEOK to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

ONEOK Stock Up 0.3 %

OKE stock opened at $79.90 on Tuesday. The firm has a 50-day moving average price of $76.94 and a 200-day moving average price of $71.29. ONEOK has a 12 month low of $55.91 and a 12 month high of $80.84. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $46.63 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 4.87 and a beta of 1.65.

ONEOK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date is Tuesday, April 30th. ONEOK’s dividend payout ratio is 71.35%.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on OKE. Stifel Nicolaus increased their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley boosted 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. Barclays raised their price objective on shares of ONEOK from $73.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. UBS Group boosted their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Finally, Raymond James raised their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.25.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

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.