ONEOK, Inc. (NYSE:OKE) – Truist Securiti boosted their Q2 2021 earnings estimates for shares of ONEOK in a research report issued to clients and investors on Thursday, April 29th. Truist Securiti analyst T. Richardson now forecasts that the utilities provider will post earnings per share of $0.81 for the quarter, up from their previous forecast of $0.80. Truist Securiti also issued estimates for ONEOK’s Q3 2021 earnings at $0.87 EPS, Q4 2021 earnings at $0.91 EPS, FY2021 earnings at $3.45 EPS, Q1 2022 earnings at $0.88 EPS, Q2 2022 earnings at $0.89 EPS, Q3 2022 earnings at $0.91 EPS, Q4 2022 earnings at $0.94 EPS and FY2022 earnings at $3.62 EPS.
ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, April 27th. The utilities provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.09. ONEOK had a return on equity of 18.38% and a net margin of 7.24%. During the same quarter last year, the company earned $0.83 EPS.
OKE has been the topic of a number of other research reports. Seaport Global Securities lowered ONEOK from a “buy” rating to a “neutral” rating in a research note on Monday, February 8th. Royal Bank of Canada increased their target price on ONEOK from $49.00 to $54.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Raymond James raised their price objective on ONEOK from $47.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 21st. Credit Suisse Group raised their price objective on ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 9th. Finally, Mizuho raised their price objective on ONEOK from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 7th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.33.
Shares of NYSE OKE opened at $52.58 on Monday. The firm has a market cap of $23.43 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 3.29 and a beta of 1.99. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. ONEOK has a 1-year low of $23.28 and a 1-year high of $53.67. The business’s 50 day moving average is $50.80 and its 200-day moving average is $42.24.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Monday, April 26th will be issued a dividend of $0.935 per share. This represents a $3.74 annualized dividend and a dividend yield of 7.11%. The ex-dividend date is Friday, April 23rd. ONEOK’s dividend payout ratio (DPR) is 121.82%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of ONEOK by 11.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,448,630 shares of the utilities provider’s stock valued at $247,499,000 after acquiring an additional 641,346 shares in the last quarter. Morgan Stanley boosted its holdings in shares of ONEOK by 117.2% during the 4th quarter. Morgan Stanley now owns 4,179,095 shares of the utilities provider’s stock valued at $160,393,000 after acquiring an additional 2,254,847 shares in the last quarter. Norges Bank acquired a new stake in shares of ONEOK during the 4th quarter valued at $134,188,000. Brookfield Asset Management Inc. boosted its holdings in shares of ONEOK by 0.4% during the 4th quarter. Brookfield Asset Management Inc. now owns 2,415,511 shares of the utilities provider’s stock valued at $92,707,000 after acquiring an additional 9,421 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of ONEOK by 22.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,305,455 shares of the utilities provider’s stock valued at $88,480,000 after acquiring an additional 426,212 shares in the last quarter. 64.03% of the stock is currently owned by institutional investors.
ONEOK Company Profile
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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