ONEOK (NYSE:OKE) Updates FY 2024 Earnings Guidance

ONEOK (NYSE:OKE) updated its FY 2024 earnings guidance on Tuesday. 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 Performance

Shares of NYSE:OKE traded down $0.48 during midday trading on Tuesday, hitting $95.54. The company’s stock had a trading volume of 2,898,852 shares, compared to its average volume of 2,725,797. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.41 and a current ratio of 0.62. The stock’s 50 day simple moving average is $93.01 and its 200 day simple moving average is $85.44. The stock has a market capitalization of $55.80 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 4.17 and a beta of 1.67. ONEOK has a fifty-two week low of $63.33 and a fifty-two week high of $98.43.

ONEOK (NYSE:OKE) last released its earnings results on Monday, August 5th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. ONEOK had a return on equity of 15.54% and a net margin of 13.41%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $5.52 billion. During the same quarter last year, the firm posted $1.04 EPS. As a group, research analysts anticipate that ONEOK will post 5.1 earnings per share for the current year.

ONEOK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be given a $0.99 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $3.96 annualized dividend and a yield of 4.14%. ONEOK’s dividend payout ratio is 86.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OKE. Citigroup lifted their target price on ONEOK from $85.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their target price on ONEOK from $82.00 to $94.00 and gave the company an “equal weight” rating in a research note on Monday, September 16th. Tudor Pickering upgraded shares of ONEOK to a “hold” rating in a research note on Thursday, July 18th. Mizuho boosted their price target on shares of ONEOK from $81.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Scotiabank raised their price objective on shares of ONEOK from $88.00 to $102.00 and gave the stock a “sector outperform” rating in a report on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.77.

Insider Activity at ONEOK

In related news, Director Pattye L. Moore sold 3,379 shares of ONEOK stock in a transaction dated 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 available through this hyperlink. 0.20% of the stock is currently owned by company 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.