Analysts expect ONEOK, Inc. (NYSE:OKE) to report sales of $2.70 billion for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for ONEOK’s earnings, with the highest sales estimate coming in at $2.86 billion and the lowest estimate coming in at $2.49 billion. ONEOK reported sales of $3.10 billion in the same quarter last year, which indicates a negative year over year growth rate of 12.9%. The firm is expected to issue its next earnings report after the market closes on Tuesday, April 30th.
According to Zacks, analysts expect that ONEOK will report full year sales of $11.99 billion for the current fiscal year, with estimates ranging from $10.56 billion to $14.02 billion. For the next year, analysts anticipate that the firm will report sales of $13.26 billion, with estimates ranging from $11.21 billion to $17.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover ONEOK.
ONEOK (NYSE:OKE) last posted its quarterly earnings results on Monday, February 25th. The utilities provider reported $0.70 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.04). ONEOK had a net margin of 9.14% and a return on equity of 17.10%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the company posted $0.53 earnings per share.
In other ONEOK news, Director Eduardo A. Rodriguez sold 1,500 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $66.75, for a total value of $100,125.00. Following the completion of the transaction, the director now owns 15,536 shares in the company, valued at $1,037,028. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OKE. JPMorgan Chase & Co. raised its position in shares of ONEOK by 28.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,059,991 shares of the utilities provider’s stock worth $207,436,000 after purchasing an additional 671,577 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of ONEOK by 6.3% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 14,720,159 shares of the utilities provider’s stock worth $997,880,000 after purchasing an additional 877,072 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of ONEOK by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,655,355 shares of the utilities provider’s stock worth $451,167,000 after purchasing an additional 31,370 shares during the last quarter. FMR LLC raised its position in shares of ONEOK by 42.3% during the 3rd quarter. FMR LLC now owns 209,634 shares of the utilities provider’s stock worth $14,211,000 after purchasing an additional 62,346 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of ONEOK during the 3rd quarter worth about $301,000. Hedge funds and other institutional investors own 75.54% of the company’s stock.
NYSE:OKE traded down $0.59 during mid-day trading on Wednesday, hitting $69.14. The company’s stock had a trading volume of 1,695,568 shares, compared to its average volume of 2,675,934. ONEOK has a 1 year low of $50.26 and a 1 year high of $71.99. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.46 and a current ratio of 0.66. The firm has a market cap of $28.54 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.03 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 29th will be given a $0.865 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 5.00%. This is an increase from ONEOK’s previous quarterly dividend of $0.86. ONEOK’s dividend payout ratio is 123.74%.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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