Zacks: Brokerages Anticipate ONEOK, Inc. (OKE) to Announce $0.52 Earnings Per Share

Brokerages predict that ONEOK, Inc. (NYSE:OKE) will announce earnings per share (EPS) of $0.52 for the current quarter, according to Zacks. Two analysts have issued estimates for ONEOK’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.54. ONEOK posted earnings per share of $0.43 in the same quarter last year, which would suggest a positive year over year growth rate of 20.9%. The business is scheduled to report its next quarterly earnings report on Monday, February 26th.

According to Zacks, analysts expect that ONEOK will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.73 to $1.74. For the next year, analysts expect that the business will report earnings of $2.14 per share, with EPS estimates ranging from $1.89 to $2.32. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover ONEOK.

ONEOK (NYSE:OKE) last issued its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.06). ONEOK had a return on equity of 9.25% and a net margin of 3.76%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business posted $0.43 earnings per share.

OKE has been the subject of a number of research analyst reports. Barclays initiated coverage on ONEOK in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $58.00 price target for the company. Zacks Investment Research lowered ONEOK from a “buy” rating to a “sell” rating in a research note on Tuesday, October 31st. Jefferies Group reissued a “hold” rating and set a $52.00 price target (up from $51.00) on shares of ONEOK in a research note on Friday, September 1st. Mizuho initiated coverage on ONEOK in a research note on Tuesday, October 10th. They set a “neutral” rating and a $59.00 price target for the company. Finally, J P Morgan Chase & Co reissued a “neutral” rating and set a $58.00 price target on shares of ONEOK in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. ONEOK presently has a consensus rating of “Hold” and a consensus price target of $59.07.

In other news, Director Brian L. Derksen acquired 1,800 shares of ONEOK stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Several large investors have recently made changes to their positions in OKE. Tortoise Capital Advisors L.L.C. increased its holdings in shares of ONEOK by 269.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 13,348,843 shares of the utilities provider’s stock valued at $739,659,000 after acquiring an additional 9,737,701 shares during the period. Harvest Fund Advisors LLC purchased a new position in shares of ONEOK in the 3rd quarter valued at $414,256,000. Kayne Anderson Capital Advisors LP increased its holdings in shares of ONEOK by 184.7% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 9,476,645 shares of the utilities provider’s stock valued at $525,098,000 after acquiring an additional 6,148,494 shares during the period. State Street Corp increased its holdings in shares of ONEOK by 53.7% in the 2nd quarter. State Street Corp now owns 17,416,296 shares of the utilities provider’s stock valued at $908,434,000 after acquiring an additional 6,086,061 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of ONEOK by 28.4% in the 2nd quarter. BlackRock Inc. now owns 24,014,654 shares of the utilities provider’s stock valued at $1,252,605,000 after acquiring an additional 5,317,251 shares during the period. Institutional investors and hedge funds own 71.02% of the company’s stock.

Shares of ONEOK (OKE) opened at $51.80 on Thursday. ONEOK has a one year low of $47.14 and a one year high of $59.47. The company has a current ratio of 0.55, a quick ratio of 0.41 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $19,830.00, a P/E ratio of 32.68, a P/E/G ratio of 3.35 and a beta of 1.26.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Monday, November 6th were issued a dividend of $0.745 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $2.98 annualized dividend and a yield of 5.75%. ONEOK’s payout ratio is currently 186.25%.

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ONEOK Company Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

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Earnings History and Estimates for ONEOK (NYSE:OKE)

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