ONEOK, Inc. Forecasted to Earn FY2017 Earnings of $1.79 Per Share (OKE)
ONEOK, Inc. (NYSE:OKE) – Investment analysts at US Capital Advisors increased their FY2017 earnings per share (EPS) estimates for ONEOK in a report released on Thursday. US Capital Advisors analyst B. Followill now anticipates that the utilities provider will earn $1.79 per share for the year, up from their previous forecast of $1.73. US Capital Advisors also issued estimates for ONEOK’s Q4 2017 earnings at $0.55 EPS, Q1 2018 earnings at $0.58 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.42 EPS.
ONEOK (NYSE:OKE) last released its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.80 billion. ONEOK had a net margin of 3.76% and a return on equity of 9.25%. During the same quarter in the prior year, the company earned $0.43 EPS.
OKE has been the topic of several other research reports. BMO Capital Markets set a $62.00 price objective on ONEOK and gave the company a “buy” rating in a report on Wednesday, October 18th. Stifel Nicolaus reissued a “hold” rating and set a $55.00 price objective on shares of ONEOK in a report on Friday, November 3rd. Zacks Investment Research raised ONEOK from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. UBS Group lifted their target price on ONEOK from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $58.00 price objective on shares of ONEOK in a research report on Monday, September 11th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. ONEOK has an average rating of “Hold” and a consensus price target of $59.07.
ONEOK (OKE) opened at $56.06 on Friday. The firm has a market capitalization of $21,500.00, a P/E ratio of 35.04, a PEG ratio of 2.88 and a beta of 1.26. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.41 and a current ratio of 0.55. ONEOK has a 52 week low of $47.14 and a 52 week high of $59.30.
Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in shares of ONEOK by 14.6% during the 2nd quarter. Victory Capital Management Inc. now owns 106,817 shares of the utilities provider’s stock worth $5,572,000 after acquiring an additional 13,601 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of ONEOK by 8.2% during the 2nd quarter. Pacer Advisors Inc. now owns 4,232 shares of the utilities provider’s stock worth $221,000 after acquiring an additional 319 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of ONEOK by 83.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,087 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 1,403 shares during the last quarter. Swiss National Bank boosted its stake in shares of ONEOK by 2.9% during the 2nd quarter. Swiss National Bank now owns 767,612 shares of the utilities provider’s stock worth $40,039,000 after acquiring an additional 21,700 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of ONEOK by 27.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 260,577 shares of the utilities provider’s stock worth $13,590,000 after acquiring an additional 56,231 shares during the last quarter. Institutional investors own 70.89% of the company’s stock.
In related news, Director Brian L. Derksen bought 1,800 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $51.00 per share, for a total transaction of $91,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.
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ONEOK, Inc is an energy midstream service provider in the United States. The Company owns and operates natural gas liquids (NGL) systems, and is engaged in the gathering, processing, storage and transportation of natural gas. THe Company’s operations include a 38,000-mile integrated network of NGL and natural gas pipelines, processing plants, fractionators and storage facilities in the Mid-Continent, Williston, Permian and Rocky Mountain regions.
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