ONEOK (NYSE:OKE) Issues Earnings Results

Key Points

• ONEOK reported earnings of $1.34 EPS for the quarter, beating analyst expectations by $0.03.
• The company declared a quarterly dividend of $1.03 per share, reflecting an annualized yield of 5.2%.
• Analysts have mixed targets for ONEOK's stock, with a consensus price target of $104.57 and multiple ratings ranging from "buy" to "equal weight."

ONEOK (NYSE:OKE - Get Free Report) released its earnings results on Monday. The utilities provider reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.01, Zacks reports. The firm had revenue of $8.21 billion during the quarter, compared to the consensus estimate of $7.20 billion. ONEOK had a return on equity of 15.58% and a net margin of 12.15%. During the same period in the prior year, the firm posted $1.33 earnings per share. ONEOK updated its FY 2025 guidance to 5.370-5.370 EPS.

ONEOK Price Performance

Shares of NYSE:OKE opened at $79.85 on Tuesday. The company's fifty day moving average is $81.40 and its two-hundred day moving average is $88.30. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. ONEOK has a 12-month low of $75.47 and a 12-month high of $118.07. The company has a market cap of $50.27 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Friday, August 1st. ONEOK's payout ratio is 80.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays cut their target price on ONEOK from $101.00 to $91.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. upped their target price on ONEOK from $94.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Raymond James Financial reaffirmed an "outperform" rating on shares of ONEOK in a report on Friday. Royal Bank Of Canada dropped their price target on ONEOK from $100.00 to $94.00 and set a "sector perform" rating on the stock in a report on Friday. Finally, Citigroup dropped their price target on ONEOK from $110.00 to $102.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $104.57.

Institutional Trading of ONEOK

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in ONEOK by 0.8% during the 1st quarter. Empowered Funds LLC now owns 17,957 shares of the utilities provider's stock valued at $1,782,000 after purchasing an additional 137 shares during the period. Acadian Asset Management LLC acquired a new position in shares of ONEOK in the first quarter worth $216,000. Finally, Brighton Jones LLC increased its stake in shares of ONEOK by 137.1% in the fourth quarter. Brighton Jones LLC now owns 15,278 shares of the utilities provider's stock worth $1,534,000 after acquiring an additional 8,834 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

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.