ONEOK (NYSE:OKE) Posts Quarterly Earnings Results, Beats Estimates By $0.67 EPS

Key Points

• ONEOK reported quarterly EPS of $2.13, beating the consensus estimate of $1.46 by $0.67. The company posted a 16.41% return on equity and a 9.29% net margin.
• ONEOK declared a quarterly dividend of $1.07 per share, or $4.28 annualized, representing a 4.5% yield and a 73.79% payout ratio.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $97.53; shares were trading near $95.84 after declining modestly.

ONEOK (NYSE:OKE - Get Free Report) released its earnings results on Tuesday. The utilities provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.67, Zacks reports. ONEOK had a return on equity of 16.41% and a net margin of 9.29%.

ONEOK Price Performance

NYSE OKE traded down $0.52 during midday trading on Tuesday, hitting $95.84. The company had a trading volume of 2,429,544 shares, compared to its average volume of 4,149,588. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $60.42 billion, a PE ratio of 16.52, a P/E/G ratio of 1.92 and a beta of 0.82. ONEOK has a twelve month low of $64.02 and a twelve month high of $99.85. The firm has a 50-day moving average price of $92.84 and a 200-day moving average price of $87.99.

ONEOK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, November 2nd. ONEOK's payout ratio is currently 73.79%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OKE shares. Citigroup upped their target price on ONEOK from $97.00 to $108.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Raymond James Financial reaffirmed an "outperform" rating and set a $98.00 price objective on shares of ONEOK in a research report on Tuesday, October 20th. Weiss Ratings raised ONEOK from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, October 21st. Wall Street Zen upgraded ONEOK from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Finally, Wells Fargo & Company boosted their target price on shares of ONEOK from $98.00 to $106.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, ONEOK currently has a consensus rating of "Moderate Buy" and an average target price of $97.53.

About ONEOK

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.

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