ONEOK (NYSE:OKE) Releases FY 2024 Earnings Guidance

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKE. Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley upgraded 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 note on Monday, September 16th. Barclays boosted their price objective on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research report on Monday, September 16th. Tudor Pickering upgraded ONEOK to a “hold” rating in a research report on Thursday, July 18th. Finally, Mizuho boosted their price target on ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

ONEOK Price Performance

Shares of NYSE OKE traded up $0.72 during midday trading on Thursday, reaching $96.88. 3,289,980 shares of the stock traded hands, compared to its average volume of 2,734,929. The company’s 50 day moving average is $93.56 and its 200 day moving average is $85.72. ONEOK has a one year low of $63.33 and a one year high of $98.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The stock has a market capitalization of $56.59 billion, a PE ratio of 21.11, a P/E/G ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a dividend of $0.99 per share. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.09%. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Insider Transactions at ONEOK

In other ONEOK 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 legal filing with the SEC, which is available at the SEC website. Company 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.