ONEOK (NYSE:OKE) Announces Quarterly Earnings Results, Misses Expectations By $0.24 EPS

ONEOK (NYSE:OKE - Get Free Report) released its quarterly earnings results on Tuesday. The utilities provider reported $1.04 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.24), Zacks reports. ONEOK had a return on equity of 16.84% and a net margin of 14.05%.

ONEOK Price Performance

ONEOK stock traded down $0.06 during mid-day trading on Tuesday, hitting $87.81. 3,488,634 shares of the company were exchanged, compared to its average volume of 3,185,996. The business has a fifty day moving average of $91.81 and a 200 day moving average of $98.99. ONEOK has a 1-year low of $75.48 and a 1-year high of $118.07. The company has a market capitalization of $54.85 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 3.77 and a beta of 1.20. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, May 5th will be paid a $1.03 dividend. The ex-dividend date is Monday, May 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 4.69%. ONEOK's payout ratio is 79.69%.

Institutional Investors Weigh In On ONEOK

An institutional investor recently raised its position in ONEOK stock. Brighton Jones LLC increased its holdings in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 137.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,278 shares of the utilities provider's stock after purchasing an additional 8,834 shares during the quarter. Brighton Jones LLC's holdings in ONEOK were worth $1,534,000 as of its most recent SEC filing. 69.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OKE has been the subject of a number of research analyst reports. Wolfe Research upgraded ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 target price for the company in a research note on Monday, February 10th. US Capital Advisors upgraded ONEOK from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, February 3rd. Scotiabank reduced their price target on ONEOK from $101.00 to $100.00 and set a "sector outperform" rating for the company in a research report on Tuesday. Barclays cut their target price on shares of ONEOK from $105.00 to $101.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley lifted their price objective on shares of ONEOK from $111.00 to $133.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $106.25.

About ONEOK

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.

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