ONEOK (NYSE:OKE) Releases FY24 Earnings Guidance

ONEOK (NYSE:OKE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.11 for the period, compared to the consensus earnings per share estimate of $5.07. ONEOK also updated its FY 2024 guidance to 5.110-5.110 EPS.

ONEOK Stock Up 0.6 %

Shares of NYSE OKE traded up $0.58 during trading on Wednesday, hitting $96.13. The stock had a trading volume of 2,736,878 shares, compared to its average volume of 2,724,197. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.62 and a quick ratio of 0.41. The firm has a fifty day moving average of $93.18 and a two-hundred day moving average of $85.56. ONEOK has a 12 month low of $63.33 and a 12 month high of $98.43. The company has a market capitalization of $56.15 billion, a PE ratio of 21.19, a PEG ratio of 4.17 and a beta of 1.67.

ONEOK (NYSE:OKE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a net margin of 13.41% and a return on equity of 15.54%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the company posted $0.99 EPS. As a group, equities research analysts forecast that ONEOK will post 5.1 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 1st will be paid a $0.99 dividend. The ex-dividend date is Friday, November 1st. This represents a $3.96 dividend on an annualized basis and a yield of 4.12%. ONEOK’s dividend payout ratio is 86.27%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OKE shares. Royal Bank of Canada lifted their price target on ONEOK from $89.00 to $98.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 16th. Citigroup lifted their price target on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Tudor Pickering raised ONEOK to a “hold” rating in a report on Thursday, July 18th. Truist Financial boosted their price objective on shares of ONEOK from $83.00 to $99.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Barclays raised their price target on ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Insider Activity

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $92.01, for a total value of $310,901.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is 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.