ONEOK (NYSE:OKE) Updates FY 2024 Earnings Guidance

by · The Cerbat Gem

ONEOK (NYSE:OKE – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.110-5.110 for the period, compared to the consensus earnings per share estimate of 5.030. The company issued revenue guidance of -. ONEOK also updated its FY24 guidance to $5.11 EPS.

ONEOK Price Performance

Shares of OKE traded up $0.66 during midday trading on Wednesday, reaching $96.21. The stock had a trading volume of 3,920,919 shares, compared to its average volume of 2,731,489. The firm’s 50 day moving average price is $93.37 and its 200-day moving average price is $85.64. ONEOK has a 52 week low of $63.33 and a 52 week high of $98.43. The company has a market capitalization of $56.19 billion, a P/E ratio of 20.96, a P/E/G ratio of 4.17 and a beta of 1.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41.

ONEOK (NYSE:OKE – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The business had revenue of $5.02 billion during the quarter, compared to analyst estimates of $5.81 billion. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. During the same period in the previous year, the company posted $0.99 earnings per share. On average, analysts forecast that ONEOK will post 5.1 earnings per share for the current fiscal year.

ONEOK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be issued a $0.99 dividend. This represents a $3.96 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date is Friday, November 1st. ONEOK’s payout ratio is 86.27%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on OKE. Tudor Pickering raised ONEOK to a “hold” rating in a research note on Thursday, July 18th. Royal Bank of Canada boosted their price target on shares of ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Bank of America initiated coverage on shares of ONEOK in a research note on Thursday, October 17th. They issued a “buy” rating and a $105.00 price objective for the company. Scotiabank boosted their target price on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research note on Friday, August 30th. Finally, Morgan Stanley upgraded ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $103.00 to $111.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.00.

Get Our Latest Stock Analysis on OKE

Insider Activity

In other ONEOK news, Director Pattye L. Moore sold 3,379 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is owned by insiders.

ONEOK Company Profile

(Get Free Report)

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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