FY2024 Earnings Estimate for ONEOK Issued By Seaport Res Ptn

ONEOK, Inc. (NYSE:OKE) – Equities researchers at Seaport Res Ptn cut their FY2024 earnings estimates for ONEOK in a report issued on Wednesday, February 5th. Seaport Res Ptn analyst S. Sibal now forecasts that the utilities provider will earn $5.00 per share for the year, down from their previous estimate of $5.04. The consensus estimate for ONEOK’s current full-year earnings is $5.09 per share. Seaport Res Ptn also issued estimates for ONEOK’s FY2025 earnings at $5.42 EPS and FY2026 earnings at $5.83 EPS.

OKE has been the subject of several other research reports. UBS Group upped their price objective on ONEOK from $112.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank assumed coverage on shares of ONEOK in a research note on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Royal Bank of Canada boosted their price objective on shares of ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on ONEOK in a research report on Thursday, October 17th. They set a “buy” rating and a $105.00 target price for the company. Finally, Wells Fargo & Company lowered ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price target on the stock. in a research report on Wednesday, December 18th. Seven equities research 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 company’s stock. According to MarketBeat, ONEOK currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.42.

ONEOK Price Performance

Shares of OKE opened at $95.74 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. The stock has a market cap of $55.93 billion, a PE ratio of 20.03, a PEG ratio of 3.69 and a beta of 1.70. ONEOK has a 12-month low of $67.81 and a 12-month high of $118.07. The business has a 50-day simple moving average of $103.62 and a two-hundred day simple moving average of $97.42.

ONEOK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Monday, February 3rd will be paid a $1.03 dividend. The ex-dividend date is Monday, February 3rd. This is an increase from ONEOK’s previous quarterly dividend of $0.99. This represents a $4.12 annualized dividend and a dividend yield of 4.30%. ONEOK’s dividend payout ratio (DPR) is currently 82.85%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. increased its holdings in shares of ONEOK by 4.1% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 2,453 shares of the utilities provider’s stock valued at $260,000 after acquiring an additional 96 shares in the last quarter. McAdam LLC grew its position in ONEOK by 3.8% in the 4th quarter. McAdam LLC now owns 2,612 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 96 shares during the period. Alliance Wealth Advisors LLC raised its holdings in ONEOK by 0.8% during the fourth quarter. Alliance Wealth Advisors LLC now owns 12,569 shares of the utilities provider’s stock worth $1,262,000 after buying an additional 100 shares during the last quarter. Mutual Advisors LLC raised its holdings in ONEOK by 1.2% during the fourth quarter. Mutual Advisors LLC now owns 8,883 shares of the utilities provider’s stock worth $965,000 after buying an additional 103 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its holdings in shares of ONEOK by 1.4% during the fourth quarter. Morton Capital Management LLC CA now owns 7,313 shares of the utilities provider’s stock valued at $734,000 after buying an additional 104 shares during the last quarter. 69.13% of the stock is owned by institutional investors and hedge funds.

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.