ONEOK (NYSE:OKE) Announces Earnings Results, Misses Expectations By $0.05 EPS

ONEOK (NYSE:OKE) posted its quarterly earnings data on Tuesday. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05), Briefing.com reports. 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 prior year, the firm posted $0.99 EPS. ONEOK updated its FY24 guidance to $5.11 EPS and its FY 2024 guidance to 5.110-5.110 EPS.

ONEOK Stock Up 0.7 %

Shares of NYSE:OKE opened at $96.21 on Thursday. The company has a market cap of $56.19 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 4.17 and a beta of 1.67. ONEOK has a one year low of $63.33 and a one year high of $98.43. The firm has a fifty day moving average price of $93.37 and a two-hundred day moving average price of $85.64. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, November 1st. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Analysts Set New Price Targets

OKE has been the topic of a number of research analyst reports. Barclays boosted their price target 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. Citigroup boosted their target price on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Truist Financial raised their price target on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday. Tudor Pickering raised shares of ONEOK to a “hold” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada increased their price objective on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, ONEOK currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Buying and Selling

In related 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 transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

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.