US Capital Advisors Analysts Boost Earnings Estimates for ONEOK, Inc. (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE - Free Report) - Research analysts at US Capital Advisors lifted their Q2 2024 earnings per share estimates for ONEOK in a report issued on Monday, April 29th. US Capital Advisors analyst J. Carreker now expects that the utilities provider will earn $1.18 per share for the quarter, up from their prior forecast of $1.17. US Capital Advisors has a "Hold" rating on the stock. The consensus estimate for ONEOK's current full-year earnings is $5.01 per share. US Capital Advisors also issued estimates for ONEOK's Q3 2024 earnings at $1.22 EPS, Q4 2024 earnings at $1.33 EPS and FY2025 earnings at $5.35 EPS.

A number of other brokerages have also recently weighed in on OKE. Truist Financial boosted their price objective on ONEOK from $71.00 to $81.00 and gave the company a "hold" rating in a research note on Thursday, March 21st. Morgan Stanley lifted their price objective on shares of ONEOK from $84.00 to $85.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 26th. Citigroup increased their target price on shares of ONEOK from $73.00 to $83.00 and gave the stock a "buy" rating in a research note on Tuesday, March 5th. Stifel Nicolaus boosted their price target on ONEOK from $81.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Finally, Wells Fargo & Company increased their price objective on ONEOK from $81.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $83.25.

ONEOK Stock Performance

Shares of OKE traded up $0.03 during midday trading on Thursday, reaching $76.95. 2,665,927 shares of the stock were exchanged, compared to its average volume of 3,005,011. The company has a market capitalization of $44.91 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 4.81 and a beta of 1.64. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.90 and a quick ratio of 0.67. ONEOK has a twelve month low of $55.91 and a twelve month high of $81.81. The business's 50-day moving average price is $78.25 and its 200 day moving average price is $71.95.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.03. ONEOK had a net margin of 12.54% and a return on equity of 16.87%. The firm had revenue of $4.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period last year, the firm posted $2.34 EPS.

ONEOK declared that its board has initiated a share buyback plan on Wednesday, January 17th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the utilities provider to purchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are undervalued.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.99 dividend. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $3.96 dividend on an annualized basis and a yield of 5.15%. ONEOK's dividend payout ratio (DPR) is presently 92.09%.

Insider Activity

In other news, Director Wayne Thomas Smith acquired 2,700 shares of the company's stock in a transaction that occurred on Friday, March 1st. The stock was purchased at an average cost of $75.25 per share, with a total value of $203,175.00. Following the purchase, the director now directly owns 2,700 shares of the company's stock, valued at approximately $203,175. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On ONEOK

Hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its position in shares of ONEOK by 5.3% during the 1st quarter. Venturi Wealth Management LLC now owns 2,809 shares of the utilities provider's stock worth $225,000 after purchasing an additional 142 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in ONEOK by 4.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 3,199 shares of the utilities provider's stock worth $256,000 after buying an additional 144 shares in the last quarter. Presima Securities ULC raised its holdings in shares of ONEOK by 1.7% in the fourth quarter. Presima Securities ULC now owns 9,100 shares of the utilities provider's stock worth $639,000 after acquiring an additional 150 shares during the last quarter. Regal Investment Advisors LLC lifted its position in shares of ONEOK by 3.6% in the third quarter. Regal Investment Advisors LLC now owns 4,631 shares of the utilities provider's stock valued at $294,000 after acquiring an additional 159 shares in the last quarter. Finally, FourThought Financial Partners LLC boosted its stake in shares of ONEOK by 3.8% during the fourth quarter. FourThought Financial Partners LLC now owns 4,386 shares of the utilities provider's stock valued at $308,000 after acquiring an additional 161 shares during the last quarter. 69.13% of the stock is currently owned by hedge funds and other institutional investors.

ONEOK Company Profile

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.