US Capital Advisors Weighs in on ONEOK FY2024 Earnings

ONEOK, Inc. (NYSE:OKE) – Research analysts at US Capital Advisors lowered their FY2024 earnings per share estimates for shares of ONEOK in a research report issued to clients and investors on Tuesday, November 26th. US Capital Advisors analyst J. Carreker now expects that the utilities provider will post earnings per share of $4.87 for the year, down from their prior estimate of $5.10. US Capital Advisors 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.

A number of other analysts have also recently weighed in on the company. Citigroup increased their price objective on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. UBS Group increased their target price on ONEOK from $112.00 to $132.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial increased their target price on ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.38.

ONEOK Stock Down 0.8 %

ONEOK stock opened at $112.59 on Thursday. ONEOK has a twelve month low of $65.49 and a twelve month high of $118.07. The stock has a 50 day moving average of $99.98 and a two-hundred day moving average of $89.62. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $65.77 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 5.56 and a beta of 1.66.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of ONEOK in the second quarter valued at approximately $28,000. Matrix Trust Co purchased a new stake in ONEOK in the 3rd quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new position in ONEOK in the 2nd quarter valued at $31,000. Access Investment Management LLC purchased a new position in shares of ONEOK during the 3rd quarter worth $37,000. Finally, Values First Advisors Inc. acquired a new stake in shares of ONEOK during the third quarter worth $44,000. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK 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 is available at 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 given a dividend of $0.99 per share. This represents a $3.96 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend was Friday, November 1st. ONEOK’s payout ratio is 82.85%.

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.