ONEOK, Inc. (NYSE:OKE) - Equities researchers at Seaport Res Ptn boosted their FY2021 earnings per share (EPS) estimates for ONEOK in a report issued on Tuesday, July 27th. Seaport Res Ptn analyst S. Sibal now forecasts that the utilities provider will post earnings per share of $3.28 for the year, up from their previous forecast of $3.01. Seaport Res Ptn also issued estimates for ONEOK's FY2022 earnings at $3.47 EPS and FY2023 earnings at $3.60 EPS.
A number of other equities analysts have also recently commented on OKE. Zacks Investment Research cut ONEOK from a "buy" rating to a "hold" rating and set a $56.00 target price for the company. in a report on Friday, July 23rd. Credit Suisse Group raised their price target on ONEOK from $49.00 to $53.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 11th. Royal Bank of Canada raised their price target on ONEOK from $49.00 to $54.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 4th. TheStreet raised ONEOK from a "c+" rating to a "b-" rating in a research note on Wednesday, April 28th. Finally, Wells Fargo & Company raised their price target on ONEOK from $59.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, June 24th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. ONEOK has an average rating of "Hold" and an average price target of $45.53.
Shares of ONEOK stock opened at $53.80 on Friday. The stock has a market cap of $23.97 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.66 and a beta of 2.03. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 2.24. The business has a 50 day moving average of $54.60. ONEOK has a one year low of $23.28 and a one year high of $57.55. ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 27th. The utilities provider reported $0.86 EPS for the quarter, topping the Zacks' consensus estimate of $0.77 by $0.09. The firm had revenue of $3.19 billion during the quarter, compared to analysts' expectations of $3.53 billion. ONEOK had a return on equity of 18.61% and a net margin of 11.88%. During the same quarter in the previous year, the business earned $0.83 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its stake in shares of ONEOK by 32.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the utilities provider's stock worth $39,000 after buying an additional 190 shares during the last quarter. Brown Advisory Securities LLC boosted its stake in shares of ONEOK by 1.3% in the second quarter. Brown Advisory Securities LLC now owns 17,248 shares of the utilities provider's stock worth $960,000 after buying an additional 215 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of ONEOK by 3.1% in the first quarter. Fifth Third Bancorp now owns 7,986 shares of the utilities provider's stock worth $405,000 after buying an additional 239 shares during the last quarter. Alliance Wealth Advisors LLC boosted its stake in shares of ONEOK by 2.0% in the first quarter. Alliance Wealth Advisors LLC now owns 12,381 shares of the utilities provider's stock worth $627,000 after buying an additional 246 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of ONEOK by 2.2% in the first quarter. Signaturefd LLC now owns 11,651 shares of the utilities provider's stock worth $590,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 63.98% of the company's stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Shareholders of record on Monday, August 2nd will be paid a dividend of $0.935 per share. The ex-dividend date is Friday, July 30th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.95%. ONEOK's payout ratio is currently 263.38%.
ONEOK, Inc, together with its subsidiaries, engages in 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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