ONEOK (NYSE:OKE) Issues Earnings Results

ONEOK (NYSE:OKE) announced its quarterly earnings results on Sunday. The utilities provider reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.05), RTT News reports. ONEOK had a return on equity of 18.38% and a net margin of 7.24%. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter last year, the firm posted $0.77 EPS. The company’s revenue was down 3.5% compared to the same quarter last year.

NYSE OKE traded down $1.41 on Tuesday, reaching $44.69. The stock had a trading volume of 178,072 shares, compared to its average volume of 2,929,588. The business has a 50 day moving average price of $42.79 and a 200 day moving average price of $34.27. The company has a current ratio of 1.57, a quick ratio of 1.15 and a debt-to-equity ratio of 2.32. ONEOK has a 1 year low of $12.16 and a 1 year high of $78.43. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 3.29 and a beta of 1.99.

The company also recently announced a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Monday, February 1st were paid a $0.935 dividend. The ex-dividend date was Friday, January 29th. This represents a $3.74 dividend on an annualized basis and a yield of 8.37%. ONEOK’s dividend payout ratio (DPR) is currently 121.82%.

Several analysts have recently weighed in on OKE shares. Mizuho upped their price objective on ONEOK from $34.00 to $42.00 and gave the company a “neutral” rating in a report on Wednesday, January 20th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on ONEOK in a research report on Thursday, December 3rd. They set a “neutral” rating and a $42.00 target price on the stock. Zacks Investment Research raised ONEOK from a “hold” rating to a “strong-buy” rating and set a $44.00 target price on the stock in a research report on Tuesday, December 29th. Morgan Stanley boosted their target price on ONEOK from $37.00 to $40.00 and gave the stock an “underweight” rating in a research report on Friday, January 15th. Finally, Bank of America lowered ONEOK from a “neutral” rating to an “underperform” rating in a research report on Wednesday, November 18th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.68.

About ONEOK

ONEOK, Inc, together with its subsidiaries, engages in 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.

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