ONEOK (NYSE:OKE) Releases Earnings Results, Beats Estimates By $0.67 EPS

ONEOK (NYSE:OKE) issued its quarterly earnings results on Tuesday. The utilities provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.67, Zacks reports. ONEOK had a net margin of 9.29% and a return on equity of 16.41%.

ONEOK Stock Performance

Shares of OKE stock traded down $0.52 during trading hours on Tuesday, reaching $95.84. The stock had a trading volume of 2,429,544 shares, compared to its average volume of 4,149,588. ONEOK has a twelve month low of $64.02 and a twelve month high of $99.85. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.74 and a quick ratio of 0.59. The firm has a market capitalization of $60.42 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.82. The firm has a 50-day simple moving average of $92.84 and a 200-day simple moving average of $87.99.

ONEOK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Monday, November 2nd will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, November 2nd. ONEOK’s payout ratio is presently 73.79%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OKE. Mizuho upped their price objective on shares of ONEOK from $91.00 to $95.00 in a report on Friday, July 10th. Seaport Research Partners increased their target price on ONEOK from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Weiss Ratings raised ONEOK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. Morgan Stanley boosted their price target on shares of ONEOK from $105.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 9th. Finally, Wells Fargo & Company raised their price objective on shares of ONEOK from $98.00 to $106.00 and gave the company an “overweight” rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, ONEOK presently has an average rating of “Moderate Buy” and an average target price of $97.53.

About ONEOK

ONEOK, Inc is an energy infrastructure company that operates midstream assets across the United States. Its business includes the gathering, processing, storage and transportation of natural gas, as well as the gathering, fractionation, storage and transportation of natural gas liquids (NGLs). The company also provides transportation and storage services for refined petroleum products, crude oil and other related commodities.

ONEOK serves major producing and consuming regions, including the Mid-Continent, Rocky Mountain, Permian and Gulf Coast areas.