Q1 2024 EPS Estimates for ONEOK, Inc. (NYSE:OKE) Decreased by Analyst

ONEOK, Inc. (NYSE:OKE) – Equities researchers at US Capital Advisors decreased their Q1 2024 earnings per share (EPS) estimates for ONEOK in a research note issued to investors on Monday, April 29th. US Capital Advisors analyst J. Carreker now forecasts that the utilities provider will earn $1.14 per share for the quarter, down from their previous forecast of $1.16. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $4.99 per share. US Capital Advisors also issued estimates for ONEOK’s FY2024 earnings at $4.87 EPS, Q1 2025 earnings at $1.27 EPS, Q2 2025 earnings at $1.29 EPS, Q3 2025 earnings at $1.33 EPS, Q4 2025 earnings at $1.46 EPS and FY2026 earnings at $5.78 EPS.

ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. The company had revenue of $4.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm posted $2.34 earnings per share.

Several other equities research analysts also recently weighed in on the stock. Barclays increased their target price on shares of ONEOK from $73.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 7th. 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. Mizuho increased their target price on shares of ONEOK from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Wolfe Research upgraded shares of ONEOK from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, January 10th. Finally, Morgan Stanley increased their target price on shares of ONEOK from $84.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, ONEOK has an average rating of “Hold” and a consensus target price of $82.25.

ONEOK Price Performance

Shares of OKE opened at $76.92 on Wednesday. ONEOK has a fifty-two week low of $55.91 and a fifty-two week high of $81.81. The company has a market capitalization of $44.89 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 4.97 and a beta of 1.65. The firm has a 50-day simple moving average of $78.19 and a 200-day simple moving average of $71.91. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.67 and a current ratio of 0.90.

Institutional Investors Weigh In On ONEOK

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in ONEOK by 10.3% during the third quarter. Vanguard Group Inc. now owns 59,237,038 shares of the utilities provider’s stock worth $3,757,405,000 after acquiring an additional 5,525,010 shares during the period. Norges Bank bought a new position in ONEOK in the 4th quarter worth about $297,948,000. Deutsche Bank AG grew its position in ONEOK by 37.7% in the 3rd quarter. Deutsche Bank AG now owns 13,292,341 shares of the utilities provider’s stock worth $843,133,000 after purchasing an additional 3,636,660 shares during the last quarter. Blackstone Inc. grew its position in ONEOK by 3,478.3% in the 3rd quarter. Blackstone Inc. now owns 3,578,316 shares of the utilities provider’s stock worth $226,973,000 after purchasing an additional 3,478,316 shares during the last quarter. Finally, Invesco Ltd. grew its position in ONEOK by 65.9% in the 3rd quarter. Invesco Ltd. now owns 8,132,301 shares of the utilities provider’s stock worth $515,832,000 after purchasing an additional 3,229,046 shares during the last quarter. Institutional investors and hedge funds own 69.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Wayne Thomas Smith acquired 2,700 shares of the stock in a transaction dated Friday, March 1st. The stock was bought 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 $203,175. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by company insiders.

ONEOK declared that its board has approved a stock repurchase program on Wednesday, January 17th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the utilities provider to reacquire up to 4.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Wednesday, May 1st will be given a dividend of $0.99 per share. The ex-dividend date 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 currently 71.35%.

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.