Brokers Set Expectations for ONEOK, Inc.’s FY2019 Earnings (NYSE:OKE)

ONEOK, Inc. (NYSE:OKE) – Stock analysts at US Capital Advisors issued their FY2019 EPS estimates for ONEOK in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. US Capital Advisors analyst B. Followill expects that the utilities provider will earn $2.69 per share for the year.

Several other analysts have also recently weighed in on OKE. Mizuho reiterated a “hold” rating and issued a $61.00 price objective on shares of ONEOK in a research note on Tuesday, January 23rd. Barclays upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $67.00 in a research note on Wednesday, January 17th. BMO Capital Markets reiterated a “buy” rating and issued a $64.00 price objective on shares of ONEOK in a research note on Tuesday, January 16th. Royal Bank of Canada upgraded shares of ONEOK from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Finally, Wells Fargo & Co upgraded shares of ONEOK from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 11th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $60.07.

Shares of ONEOK (NYSE:OKE) opened at $58.73 on Monday. The company has a market cap of $23,940.00, a PE ratio of 36.71, a P/E/G ratio of 1.98 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK has a twelve month low of $47.14 and a twelve month high of $61.36.

ONEOK (NYSE:OKE) last announced its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a return on equity of 9.25% and a net margin of 3.76%. During the same period in the previous year, the firm posted $0.43 EPS.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, January 29th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, January 26th. This is a boost from ONEOK’s previous quarterly dividend of $0.75. This represents a $3.08 annualized dividend and a dividend yield of 5.24%. ONEOK’s payout ratio is presently 192.50%.

In other news, Director Brian L. Derksen bought 1,800 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was bought at an average cost of $51.00 per share, for a total transaction of $91,800.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of ONEOK by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 912,694 shares of the utilities provider’s stock valued at $47,603,000 after buying an additional 13,443 shares in the last quarter. Starr International Co. Inc. acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $8,089,000. Wells Fargo & Company MN raised its position in shares of ONEOK by 42.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,010,968 shares of the utilities provider’s stock valued at $52,732,000 after buying an additional 302,407 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of ONEOK by 1.6% in the 3rd quarter. New York State Common Retirement Fund now owns 552,700 shares of the utilities provider’s stock valued at $30,625,000 after buying an additional 8,800 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of ONEOK by 3.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 9,398,693 shares of the utilities provider’s stock valued at $520,782,000 after buying an additional 300,031 shares in the last quarter. Institutional investors own 66.30% of the company’s stock.

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ONEOK Company Profile

ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.

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Earnings History and Estimates for ONEOK (NYSE:OKE)

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