ONEOK (NYSE:OKE) Updates FY24 Earnings Guidance

ONEOK (NYSE:OKE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $5.11 for the period, compared to the consensus earnings per share estimate of $5.07.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Morgan Stanley upgraded shares of ONEOK from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $103.00 to $111.00 in a research note on Monday, September 16th. Truist Financial increased their price objective on shares of ONEOK from $81.00 to $83.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price objective on shares of ONEOK from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Citigroup increased their price objective on shares of ONEOK from $85.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.77.

ONEOK Stock Performance

Shares of NYSE:OKE traded down $0.47 on Tuesday, hitting $95.55. 2,898,464 shares of the company were exchanged, compared to its average volume of 2,725,797. ONEOK has a 1-year low of $63.33 and a 1-year high of $98.43. The stock’s 50 day moving average price is $93.01 and its 200 day moving average price is $85.44. The company has a current ratio of 0.62, a quick ratio of 0.41 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $55.81 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. Sell-side analysts predict that ONEOK will post 5.1 EPS for the current year.

ONEOK Announces Dividend

The firm 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 dividend of $0.99 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a dividend yield of 4.14%. ONEOK’s dividend payout ratio (DPR) is presently 86.27%.

Insider Buying and Selling

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

ONEOK Company Profile

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.