US Capital Advisors Decreases Earnings Estimates for ONEOK

ONEOK, Inc. (NYSE:OKE) – Analysts at US Capital Advisors cut their FY2024 earnings per share (EPS) estimates for shares of ONEOK in a research note issued on Monday, February 3rd. US Capital Advisors analyst J. Carreker now expects that the utilities provider will post earnings of $4.84 per share for the year, down from their prior forecast of $4.87. US Capital Advisors has a “Strong-Buy” rating on the stock. The consensus estimate for ONEOK’s current full-year earnings is $5.09 per share. US Capital Advisors also issued estimates for ONEOK’s Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $1.38 EPS and Q2 2025 earnings at $1.30 EPS.

Several other research firms also recently weighed in on OKE. Bank of America assumed coverage on ONEOK in a report on Thursday, October 17th. They issued a “buy” rating and a $105.00 target price for the company. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a report on Wednesday, October 16th. Mizuho raised ONEOK to a “hold” rating in a report on Thursday, November 7th. Barclays boosted their target price on ONEOK from $94.00 to $99.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, UBS Group boosted their target price on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

ONEOK Stock Down 0.6 %

ONEOK stock opened at $97.03 on Wednesday. ONEOK has a fifty-two week low of $67.05 and a fifty-two week high of $118.07. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.59 and a current ratio of 0.81. The company has a market capitalization of $56.68 billion, a P/E ratio of 20.30, a PEG ratio of 3.69 and a beta of 1.70. The stock has a 50-day simple moving average of $104.24 and a 200-day simple moving average of $97.33.

ONEOK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Monday, February 3rd will be given a dividend of $1.03 per share. This is a boost from ONEOK’s previous quarterly dividend of $0.99. The ex-dividend date is Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.25%. ONEOK’s payout ratio is presently 82.85%.

Hedge Funds Weigh In On ONEOK

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of ONEOK by 9,439.9% in the 3rd quarter. International Assets Investment Management LLC now owns 3,230,989 shares of the utilities provider’s stock worth $294,440,000 after acquiring an additional 3,197,121 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ONEOK by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider’s stock worth $1,593,023,000 after acquiring an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of ONEOK in the 3rd quarter worth approximately $47,957,000. National Pension Service grew its holdings in shares of ONEOK by 65.3% in the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider’s stock worth $126,779,000 after acquiring an additional 498,908 shares during the period. Finally, Yaupon Capital Management LP acquired a new stake in shares of ONEOK in the 3rd quarter worth approximately $45,194,000. Institutional investors and hedge funds own 69.13% of the company’s stock.

About ONEOK

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.