ONEOK (NYSE:OKE – Get Free Report) posted its quarterly earnings data on Tuesday. The utilities provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.67, Zacks reports. The firm had revenue of $12.46 billion during the quarter, compared to analysts’ expectations of $10.54 billion. ONEOK had a net margin of 9.29% and a return on equity of 16.41%.
ONEOK Stock Down 0.5%
Shares of OKE stock traded down $0.52 during trading hours on Tuesday, hitting $95.84. 2,431,950 shares of the company were exchanged, compared to its average volume of 4,152,767. ONEOK has a 52 week low of $64.02 and a 52 week high of $99.85. The company has a current ratio of 0.74, a quick ratio of 0.59 and a debt-to-equity ratio of 1.34. The business has a 50 day moving average of $92.84 and a two-hundred day moving average of $87.99. The company has a market capitalization of $60.42 billion, a PE ratio of 16.52, a PEG ratio of 1.92 and a beta of 0.82.
ONEOK Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. ONEOK’s dividend payout ratio is currently 73.79%.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on OKE shares. Wall Street Zen upgraded ONEOK from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Freedom Capital raised shares of ONEOK from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of ONEOK from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, October 21st. UBS Group set a $93.00 target price on shares of ONEOK in a research note on Friday, September 11th. Finally, Wells Fargo & Company increased their target price on shares of ONEOK from $98.00 to $106.00 and gave the stock an “overweight” rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $97.53.
Read Our Latest Stock Analysis on ONEOK
About ONEOK
ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.
ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.
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