ONEOK (OKE) Ready to announce earnings on Tuesday

ONEOK (NYSE:OKE – Get Free Report) will release its quarterly earnings data after the market closes on Tuesday, April 30. Analysts expect the company to report earnings of $1.06 per share for the quarter. ONEOK has set its FY24 earnings per share guidance at $4.45-$5.14. Individuals interested in participating in the company’s earnings conference call can do so via this link.

ONEOK (NYSE:OKE – Get Free Report) last released its quarterly earnings data on Monday, February 26. The utility reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.21 by ($0.03). The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.57 billion. ONEOK had a net margin of 15.04% and a return on equity of 22.57%. During the same period last year, the company earned $1.08 in earnings per share. On average, analysts expect ONEOK to post earnings per share of $5 for the current fiscal year and $6 for the next fiscal year.

ONEOK shares rise 0.3%

OKE stock opened at $79.90 on Tuesday. The company has a 50-day moving average of $76.94 and a 200-day moving average of $71.29. ONEOK has a 12-month low of $55.91 and a 12-month high of $80.84. The company has a current ratio of 0.90, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. The stock has a market cap of $46.63 billion, a price-to-earnings ratio of 14.40, a price-to-earnings growth ratio of 4.87 and a beta of 1.65.

ONEOK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15. Investors of record on Wednesday, May 1 will receive a dividend of $0.99 per share. This represents a dividend of $3.96 annually and a yield of 4.96%. The ex-dividend date is Tuesday, April 30. ONEOK’s dividend payout ratio is 71.35%.

ONEOK announced that its board on Wednesday, January 17, authorized a share repurchase program that authorizes the company to repurchase $2.00 billion of outstanding shares. This repurchase authorization authorizes the utility to purchase up to 4.9% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s board believes the stock is undervalued.

Analysts set new price targets

A number of brokers have recently commented on OKE. Stifel Nicolaus raised their price target on ONEOK from $81.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, April 16. Morgan Stanley raised their price target on ONEOK from $84.00 to $85.00 and gave the stock an “equalweight” rating in a report on Tuesday, March 26. Barclays lifted their price objective on shares of ONEOK from $73.00 to $80.00 and gave the company an “equalweight” rating in a report on Thursday, March 7. UBS Group raised their target price on shares of ONEOK from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, February 27. Finally, Raymond James raised their price target on shares of ONEOK from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.25.

Check out our latest report on OKE

Buying and selling with insider information

In related news, director Wayne Thomas Smith purchased 2,700 shares of ONEOK stock in a transaction on Friday, March 1. The shares were acquired at an average cost of $75.25 per share, for a total transaction of $203,175.00. Following the completion of the acquisition, the director now owns 2,700 shares of the company’s stock, valued at approximately $203,175. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Currently, 0.20% of the shares are owned by insiders.

About ONEOK

(Get a free report)

ONEOK, Inc engages in the gathering, processing, fractionation, storage, transportation and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates in four segments: natural gas extraction and processing, natural gas liquids, natural gas pipelines and refined products, and crude oil.

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