Zacks: Brokerages Anticipate ONEOK, Inc. (NYSE:OKE) to Announce $0.71 Earnings Per Share

Analysts expect ONEOK, Inc. (NYSE:OKE) to announce earnings of $0.71 per share for the current quarter, Zacks reports. Four analysts have issued estimates for ONEOK’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.68. ONEOK reported earnings per share of $0.68 in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The company is expected to report its next earnings results after the market closes on Tuesday, July 30th.

On average, analysts expect that ONEOK will report full-year earnings of $3.07 per share for the current year, with EPS estimates ranging from $2.92 to $3.23. For the next year, analysts forecast that the firm will post earnings of $3.71 per share, with EPS estimates ranging from $3.43 to $4.22. Zacks’ EPS averages are a mean average based on a survey of analysts that follow ONEOK.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 30th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.70 billion. ONEOK had a return on equity of 18.47% and a net margin of 9.98%. During the same period in the previous year, the firm earned $0.64 earnings per share.

A number of equities research analysts have recently issued reports on the company. UBS Group lowered Guangshen Railway Co. Ltd ADR Class H from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 3rd. Mitsubishi UFJ Financial Group assumed coverage on ONEOK in a research report on Wednesday, June 5th. They set a “neutral” rating and a $74.00 target price on the stock. Zacks Investment Research lowered GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Jefferies Financial Group boosted their target price on T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Raymond James started coverage on Solar Capital in a research report on Tuesday, April 16th. They set an “outperform” rating and a $22.50 price target on the stock. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. ONEOK has a consensus rating of “Hold” and a consensus price target of $71.45.

A number of large investors have recently bought and sold shares of the stock. IMA Wealth Inc. acquired a new position in ONEOK in the 2nd quarter worth about $32,000. Destination Wealth Management increased its position in ONEOK by 808.7% in the 2nd quarter. Destination Wealth Management now owns 1,363 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 1,213 shares during the last quarter. LexAurum Advisors LLC increased its position in ONEOK by 47.9% in the 2nd quarter. LexAurum Advisors LLC now owns 20,482 shares of the utilities provider’s stock worth $1,409,000 after purchasing an additional 6,630 shares during the last quarter. Commonwealth Equity Services LLC increased its position in ONEOK by 4.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 107,637 shares of the utilities provider’s stock worth $7,406,000 after purchasing an additional 4,878 shares during the last quarter. Finally, Bristlecone Advisors LLC acquired a new position in ONEOK in the 2nd quarter worth about $558,000. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ONEOK stock traded down $0.63 on Monday, reaching $68.53. 1,881,014 shares of the company were exchanged, compared to its average volume of 1,785,600. The business has a fifty day simple moving average of $67.63. The stock has a market cap of $28.55 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.99 and a beta of 1.18. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.79 and a quick ratio of 0.55. ONEOK has a fifty-two week low of $50.26 and a fifty-two week high of $71.43.

ONEOK Company Profile

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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Earnings History and Estimates for ONEOK (NYSE:OKE)

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