Brokerages expect ONEOK, Inc. (NYSE:OKE) to announce $2.44 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for ONEOK’s earnings. The lowest sales estimate is $2.40 billion and the highest is $2.51 billion. ONEOK reported sales of $3.14 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 22.3%. The business is expected to report its next earnings results on Monday, February 24th.
On average, analysts expect that ONEOK will report full-year sales of $9.94 billion for the current financial year, with estimates ranging from $9.90 billion to $10.01 billion. For the next year, analysts forecast that the company will post sales of $10.59 billion, with estimates ranging from $9.23 billion to $11.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover ONEOK.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.36 billion. ONEOK had a return on equity of 19.56% and a net margin of 11.76%. During the same quarter in the previous year, the business earned $0.75 earnings per share.
A number of equities analysts have recently commented on the stock. Tudor Pickering initiated coverage on shares of ONEOK in a research report on Friday, November 8th. They set a “buy” rating and a $74.00 target price on the stock. Goldman Sachs Group raised ONEOK from a “neutral” rating to a “buy” rating and increased their target price for the company from $73.00 to $81.00 in a research report on Sunday, November 3rd. Argus lifted their price target on ONEOK to $82.00 and gave the company an “average” rating in a report on Tuesday, August 6th. Raymond James reduced their price target on ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group upped their price objective on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $74.53.
ONEOK stock traded up $0.62 during trading hours on Friday, hitting $70.81. The company had a trading volume of 620,602 shares, compared to its average volume of 1,595,683. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a market cap of $29.35 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.16 and a beta of 1.16. The company has a 50-day moving average price of $70.67 and a two-hundred day moving average price of $69.69. ONEOK has a 1 year low of $50.26 and a 1 year high of $77.21.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.915 per share. The ex-dividend date was Friday, November 1st. This represents a $3.66 annualized dividend and a dividend yield of 5.17%. This is an increase from ONEOK’s previous quarterly dividend of $0.89. ONEOK’s dividend payout ratio is 131.65%.
In related news, CAO Mary M. Spears sold 2,000 shares of ONEOK stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $71.85, for a total value of $143,700.00. Following the completion of the sale, the chief accounting officer now directly owns 10,263 shares in the company, valued at approximately $737,396.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of OKE. FMR LLC grew its holdings in shares of ONEOK by 26.7% during the first quarter. FMR LLC now owns 229,823 shares of the utilities provider’s stock worth $16,051,000 after buying an additional 48,432 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in ONEOK by 45.7% in the 2nd quarter. Cornerstone Advisors Inc. now owns 822 shares of the utilities provider’s stock valued at $57,000 after acquiring an additional 258 shares during the last quarter. NEXT Financial Group Inc raised its holdings in ONEOK by 52.6% in the 2nd quarter. NEXT Financial Group Inc now owns 6,307 shares of the utilities provider’s stock valued at $434,000 after acquiring an additional 2,175 shares during the last quarter. AE Wealth Management LLC lifted its stake in ONEOK by 82.8% in the 2nd quarter. AE Wealth Management LLC now owns 16,813 shares of the utilities provider’s stock worth $1,157,000 after purchasing an additional 7,618 shares in the last quarter. Finally, Manchester Financial Inc. purchased a new position in ONEOK in the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 73.32% of the company’s stock.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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