ONEOK (NYSE:OKE) Updates FY 2024 Earnings Guidance

ONEOK (NYSE:OKE) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 4.920-4.920 for the period, compared to the consensus earnings per share estimate of 5.000. The company issued revenue guidance of -.

ONEOK Stock Performance

OKE traded down $1.57 during trading on Monday, reaching $78.60. 3,528,736 shares of the company were exchanged, compared to its average volume of 2,756,126. The stock has a market cap of $45.87 billion, a P/E ratio of 18.07, a PEG ratio of 4.37 and a beta of 1.65. The firm has a 50 day moving average of $81.43 and a 200 day moving average of $78.12. The company has a current ratio of 0.70, a quick ratio of 0.48 and a debt-to-equity ratio of 1.24. ONEOK has a 52 week low of $60.58 and a 52 week high of $86.20.

ONEOK (NYSE:OKE) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.12. ONEOK had a return on equity of 15.94% and a net margin of 12.54%. During the same period in the previous year, the business earned $1.04 earnings per share. On average, sell-side analysts forecast that ONEOK will post 5.02 EPS for the current fiscal year.

ONEOK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st will be paid a $0.99 dividend. The ex-dividend date is Thursday, August 1st. This represents a $3.96 annualized dividend and a dividend yield of 5.04%. ONEOK’s payout ratio is 92.09%.

Wall Street Analysts Forecast Growth

OKE has been the subject of several research analyst reports. Mizuho upped their price objective on ONEOK from $81.00 to $85.00 and gave the company a neutral rating in a report on Friday, July 26th. Wells Fargo & Company upped their price objective on ONEOK from $81.00 to $85.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Tudor Pickering upgraded ONEOK to a hold rating in a report on Thursday, July 18th. JPMorgan Chase & Co. upped their target price on ONEOK from $89.00 to $92.00 and gave the company an overweight rating in a report on Wednesday, June 26th. Finally, Truist Financial upped their target price on ONEOK from $81.00 to $83.00 and gave the company a hold rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $85.00.

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.