ONEOK, Inc. (NYSE:OKE) – Investment analysts at Jefferies Financial Group dropped their FY2019 EPS estimates for shares of ONEOK in a report released on Wednesday, December 18th. Jefferies Financial Group analyst C. Sighinolfi now forecasts that the utilities provider will post earnings per share of $3.11 for the year, down from their previous estimate of $3.18. Jefferies Financial Group also issued estimates for ONEOK’s Q4 2019 earnings at $0.80 EPS, Q3 2020 earnings at $0.90 EPS, Q4 2020 earnings at $0.92 EPS, FY2021 earnings at $3.95 EPS and FY2022 earnings at $4.19 EPS.
A number of other brokerages have also commented on OKE. Tudor Pickering initiated coverage on ONEOK in a research report on Friday, November 8th. They issued a “buy” rating and a $74.00 price objective for the company. Barclays set a $79.00 target price on shares of ONEOK and gave the company a “hold” rating in a research report on Tuesday, October 15th. Zacks Investment Research lowered shares of ONEOK from a “buy” rating to a “hold” rating and set a $81.00 target price on the stock. in a research note on Wednesday, September 18th. Raymond James lowered their price target on shares of ONEOK from $74.00 to $73.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, ValuEngine raised shares of ONEOK from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $75.07.
Shares of OKE opened at $75.99 on Monday. The stock’s fifty day simple moving average is $71.84 and its 200-day simple moving average is $70.43. The firm has a market capitalization of $31.06 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.29 and a beta of 1.16. ONEOK has a 12-month low of $50.26 and a 12-month high of $77.21. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 2.01.
ONEOK (NYSE:OKE) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.36 billion. ONEOK had a net margin of 11.76% and a return on equity of 19.56%. During the same quarter in the previous year, the company posted $0.75 EPS.
In other news, CAO Mary M. Spears sold 2,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $71.85, for a total value of $143,700.00. Following the completion of the sale, the chief accounting officer now directly owns 10,263 shares of the company’s stock, valued at approximately $737,396.55. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark W. Helderman purchased 6,094 shares of the stock in a transaction dated Tuesday, December 17th. The stock was bought at an average cost of $73.36 per share, with a total value of $447,055.84. 0.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of OKE. Evoke Wealth LLC bought a new stake in shares of ONEOK in the third quarter worth about $164,000. Nomura Holdings Inc. acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $217,000. Resources Management Corp CT ADV acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $210,000. Institutional & Family Asset Management LLC increased its stake in ONEOK by 83.5% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 8,528 shares of the utilities provider’s stock worth $628,000 after purchasing an additional 3,880 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in ONEOK by 71.6% during the 3rd quarter. IHT Wealth Management LLC now owns 8,684 shares of the utilities provider’s stock worth $640,000 after buying an additional 3,623 shares during the period. Hedge funds and other institutional investors own 73.26% of the company’s stock.
ONEOK Company Profile
ONEOK, Inc, together with its subsidiaries, engages in the gathering, processing, storage, and transportation of natural gas in the United States. It operates through Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. The company owns natural gas gathering pipelines and processing plants in the Mid-Continent and Rocky Mountain regions.
