ONEOK, Inc. (NYSE:OKE) – Research analysts at Seaport Global Securities reduced their Q3 2019 earnings per share estimates for shares of ONEOK in a report released on Wednesday, October 16th. Seaport Global Securities analyst S. Sibal now anticipates that the utilities provider will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.77. Seaport Global Securities also issued estimates for ONEOK’s Q4 2019 earnings at $0.79 EPS, FY2019 earnings at $3.10 EPS, FY2020 earnings at $3.82 EPS, FY2021 earnings at $4.36 EPS, FY2022 earnings at $4.59 EPS and FY2023 earnings at $4.70 EPS.
ONEOK (NYSE:OKE) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.87 billion. ONEOK had a return on equity of 19.30% and a net margin of 10.67%. ONEOK’s revenue was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share.
OKE has been the subject of a number of other research reports. Zacks Investment Research lowered ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price for the company. in a report on Wednesday, September 18th. Credit Suisse Group upped their target price on ONEOK from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Argus upped their target price on ONEOK to $82.00 and gave the stock an “average” rating in a report on Tuesday, August 6th. UBS Group upgraded ONEOK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $69.00 to $75.00 in a report on Monday, August 12th. Finally, Mitsubishi UFJ Financial Group upped their target price on ONEOK to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $73.67.
ONEOK stock opened at $70.33 on Monday. The business has a fifty day moving average of $72.16 and a two-hundred day moving average of $69.23. The company has a quick ratio of 0.60, a current ratio of 0.81 and a debt-to-equity ratio of 1.70. The firm has a market cap of $28.58 billion, a P/E ratio of 25.30, a P/E/G ratio of 1.93 and a beta of 1.12. ONEOK has a twelve month low of $50.26 and a twelve month high of $77.21.
Hedge funds have recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of ONEOK during the second quarter worth $27,000. JNBA Financial Advisors increased its position in shares of ONEOK by 91.3% during the second quarter. JNBA Financial Advisors now owns 419 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 200 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of ONEOK during the second quarter worth $32,000. Gradient Investments LLC increased its position in shares of ONEOK by 82.3% during the second quarter. Gradient Investments LLC now owns 576 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 260 shares in the last quarter. Finally, FinTrust Capital Advisors LLC increased its position in shares of ONEOK by 498.0% during the second quarter. FinTrust Capital Advisors LLC now owns 610 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 508 shares in the last quarter. 74.55% of the stock is currently owned by institutional investors and hedge funds.
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
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