US Capital Advisors Weighs in on ONEOK FY2024 Earnings

ONEOK, Inc. (NYSE:OKE) – Stock analysts at US Capital Advisors decreased their FY2024 earnings per share (EPS) estimates for shares of ONEOK in a note issued to investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will earn $4.87 per share for the year, down from their previous forecast of $5.10. US Capital Advisors currently has a “Moderate Buy” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.15 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.27 EPS, Q2 2025 earnings at $1.32 EPS and FY2026 earnings at $6.81 EPS.

ONEOK (NYSE:OKE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company earned $0.99 EPS.

Several other equities analysts have also commented on OKE. Royal Bank of Canada upped their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective on the stock. Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $103.00 to $111.00 in a report on Monday, September 16th. Mizuho upgraded ONEOK to a “hold” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.38.

ONEOK Stock Performance

Shares of ONEOK stock opened at $112.59 on Thursday. ONEOK has a 52 week low of $65.49 and a 52 week high of $118.07. The business’s fifty day simple moving average is $99.98 and its 200-day simple moving average is $89.62. The firm has a market cap of $65.77 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 5.56 and a beta of 1.66. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of ONEOK during the 2nd quarter worth about $28,000. Matrix Trust Co acquired a new stake in shares of ONEOK in the 3rd quarter valued at about $29,000. Ridgewood Investments LLC acquired a new stake in shares of ONEOK in the 2nd quarter valued at about $31,000. Access Investment Management LLC acquired a new stake in shares of ONEOK in the 3rd quarter valued at about $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK in the 3rd quarter valued at about $44,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ONEOK

In other news, Director Pattye L. Moore sold 3,379 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

ONEOK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 1st were issued a dividend of $0.99 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 3.52%. ONEOK’s dividend payout ratio (DPR) is 82.85%.

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.