ONEOK (NYSE:OKE) Issues FY 2024 Earnings Guidance

ONEOK (NYSE:OKE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 5.110-5.110 for the period, compared to the consensus earnings per share estimate of 5.030. The company issued revenue guidance of -. ONEOK also updated its FY24 guidance to $5.11 EPS.

ONEOK Stock Down 3.4 %

NYSE:OKE traded down $3.28 during trading hours on Friday, reaching $93.60. 1,136,895 shares of the company traded hands, compared to its average volume of 2,727,392. The business’s 50-day moving average price is $93.56 and its two-hundred day moving average price is $85.72. The company has a current ratio of 0.81, a quick ratio of 0.41 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $54.67 billion, a P/E ratio of 19.58, a P/E/G ratio of 4.20 and a beta of 1.67. ONEOK has a 1 year low of $63.33 and a 1 year high of $98.43.

ONEOK (NYSE:OKE) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.05). ONEOK had a return on equity of 16.84% and a net margin of 14.05%. The firm had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the firm posted $0.99 earnings per share. Analysts predict that ONEOK will post 5.04 earnings per share for the current year.

ONEOK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 1st will be paid a $0.99 dividend. This represents a $3.96 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, November 1st. ONEOK’s dividend payout ratio is currently 82.85%.

Analysts Set New Price Targets

A number of brokerages have weighed in on OKE. Royal Bank of Canada boosted their target price on ONEOK from $89.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 16th. Scotiabank increased their price objective on shares of ONEOK from $88.00 to $102.00 and gave the company a “sector outperform” rating in a research report on Friday, August 30th. Barclays lifted their target price on shares of ONEOK from $82.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Monday, September 16th. Truist Financial increased their price target on ONEOK from $83.00 to $99.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Morgan Stanley raised ONEOK from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $103.00 to $111.00 in a report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.54.

Insider Buying and Selling at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $92.01, for a total transaction of $310,901.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.20% 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.