ONEOK (NYSE:OKE) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

ONEOK (NYSE:OKE) posted its quarterly earnings data on Tuesday. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05), Briefing.com reports. The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.81 billion. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. During the same quarter last year, the business earned $0.99 earnings per share. ONEOK updated its FY24 guidance to $5.11 EPS and its FY 2024 guidance to 5.110-5.110 EPS.

ONEOK Stock Performance

Shares of NYSE OKE opened at $96.88 on Friday. The business’s 50-day moving average price is $93.56 and its two-hundred day moving average price is $85.72. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.41. ONEOK has a one year low of $63.33 and a one year high of $98.43. The company has a market capitalization of $56.58 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 4.20 and a beta of 1.67.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be issued 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 dividend yield of 4.09%. ONEOK’s dividend payout ratio is 82.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKE. Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays raised their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a report on Monday, September 16th. Mizuho raised their target price on shares of ONEOK from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.00.

Insider Buying and Selling at ONEOK

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

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.